Worthing Properties Ltd v Sterling Macro Fund - Winding Up Judgment (No. 4) [2017] CIFsd 14 (06 April 2017)

The court found that the petitioner had established its standing as a creditor and that Sterling Macro Fund was unable to pay its debts, warranting a winding up order.

Citation: [2017] CIFsd 14
Parties: Petitioner: Worthing Properties Ltd; Respondent: Sterling Macro Fund
Jurisdiction: Cayman Islands
Judgment Date: 06 April 2017
Procedural Posture: Winding Up Petition / Judgment
Outcome: petition granted
Legal Topics: Winding Up, Liquidation, Creditor's Petition

Insolvency Company Law Winding Up Liquidation Creditor's Petition

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 1 Party arguments 2

Parties

Worthing Properties Ltd

Petitioner

Sterling Macro Fund

Respondent

Procedural Posture

Winding Up Petition / Judgment

Legal Issues

1 Whether Sterling Macro Fund should be wound up under the Companies Law
2 Whether the petitioner has standing as a creditor

Ratio Decidendi

The court found that the petitioner had established its standing as a creditor and that Sterling Macro Fund was unable to pay its debts, warranting a winding up order.

Court Disposition

petition granted

Orders

Sterling Macro Fund is ordered to be wound up by the court
Official liquidators to be appointed