In the Matter of Meta Data Ltd. - Judgment [2024] CIFsd 103 (02 September 2024)

The Court found that Meta Data Ltd. was unable to pay its debts and that the statutory demand was properly served, justifying a winding-up order.

Citation: [2024] CIFsd 103
Parties: Respondent: Meta Data Ltd.; Applicant: Petitioner
Jurisdiction: Cayman Islands
Judgment Date: 02 September 2024
Procedural Posture: Company Winding Up Petition / Judgment
Outcome: winding-up order granted
Legal Topics: Winding Up, Solvency, Statutory Demand

Company Law Insolvency Winding Up Solvency Statutory Demand

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Parties

Meta Data Ltd.

Respondent

Petitioner

Applicant

Procedural Posture

Company Winding Up Petition / Judgment

Legal Issues

1 Whether Meta Data Ltd. should be wound up on grounds of insolvency
2 Whether statutory demand was properly served

Ratio Decidendi

The Court found that Meta Data Ltd. was unable to pay its debts and that the statutory demand was properly served, justifying a winding-up order.

Court Disposition

winding-up order granted

Orders

Meta Data Ltd. is ordered to be wound up under the supervision of the Court
Official liquidator to be appointed