In the matter of Fortuna Development [2007] CIFsd 3 (17 September 2007)
The court found that Fortuna Development was unable to pay its debts and that no alternative remedy was appropriate, thus a winding up order was justified.
- Citation
- [2007] CIFsd 3
- Parties
- Subject Entity: Fortuna Development
- Jurisdiction
- Cayman Islands
- Judgment Date
- 17 September 2007
- Procedural Posture
- Financial Services Matter / Judgment
- Outcome
- winding up order granted
- Legal Topics
- Winding Up, Liquidation, Company Law
Case Brief
Summary, issues, holding and outcome
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Parties
Fortuna Development
Subject Entity
Procedural Posture
Financial Services Matter / Judgment
Legal Issues
- 1 Whether Fortuna Development should be wound up under the Companies Law
Ratio Decidendi
The court found that Fortuna Development was unable to pay its debts and that no alternative remedy was appropriate, thus a winding up order was justified.
Court Disposition
winding up order granted
Orders
- Fortuna Development is to be wound up under the supervision of the court
- A liquidator is to be appointed
Full Case Text
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