In the matter of Ascot Fund Ltd [2021] CIFsd 1 (11 January 2021)

The court found that Ascot Fund Ltd was unable to pay its debts and ordered that it be wound up in accordance with the Companies Law.

Citation: [2021] CIFsd 1
Parties: Subject Company: Ascot Fund Ltd
Jurisdiction: Cayman Islands
Judgment Date: 11 January 2021
Procedural Posture: Winding Up Petition / Judgment
Outcome: petition granted
Legal Topics: Winding Up, Liquidation, Investment Funds

Insolvency Company Law Winding Up Liquidation Investment Funds

Case Brief

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Parties

Ascot Fund Ltd

Subject Company

Procedural Posture

Winding Up Petition / Judgment

Legal Issues

1 Whether Ascot Fund Ltd should be wound up under the Companies Law

Ratio Decidendi

The court found that Ascot Fund Ltd was unable to pay its debts and ordered that it be wound up in accordance with the Companies Law.

Court Disposition

petition granted

Orders

Ascot Fund Ltd is ordered to be wound up.
Official liquidators to be appointed.