In the matter of BBCI (Overseas) Ltd [2010] CIFsd 6 (26 February 2010)

The court held that BBCI (Overseas) Ltd should be wound up as it was unable to pay its debts and the statutory requirements for winding up were satisfied.

Citation: [2010] CIFsd 6
Parties: Subject Company: BBCI (Overseas) Ltd
Jurisdiction: Cayman Islands
Judgment Date: 26 February 2010
Procedural Posture: Corporate Insolvency / Judgment
Outcome: winding up order granted
Legal Topics: Winding Up, Liquidation, Creditor Claims

Corporate Law Insolvency Winding Up Liquidation Creditor Claims

Case Brief

Summary, issues, holding and outcome

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Parties

BBCI (Overseas) Ltd

Subject Company

Procedural Posture

Corporate Insolvency / Judgment

Legal Issues

1 Whether BBCI (Overseas) Ltd should be wound up under the Companies Law
2 Entitlement of creditors to participate in the liquidation

Ratio Decidendi

The court held that BBCI (Overseas) Ltd should be wound up as it was unable to pay its debts and the statutory requirements for winding up were satisfied.

Court Disposition

winding up order granted

Orders

BBCI (Overseas) Ltd is ordered to be wound up
Liquidators to be appointed as per the Companies Law