In the matter of Global Fidelity Bank Ltd [2021] CIFsd 50 (20 August 2021)

Global Fidelity Bank Ltd is insolvent and unable to pay its debts; the statutory grounds for winding up are satisfied and liquidators should be appointed.

Citation: [2021] CIFsd 50
Parties: Subject Entity: Global Fidelity Bank Ltd
Jurisdiction: Cayman Islands
Judgment Date: 20 August 2021
Procedural Posture: Company Matter / Judgment
Outcome: winding up order granted; liquidators appointed
Legal Topics: Winding Up, Appointment of Liquidators

Banking Insolvency Winding Up Appointment of Liquidators

Case Brief

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Parties

Global Fidelity Bank Ltd

Subject Entity

Procedural Posture

Company Matter / Judgment

Legal Issues

1 Whether Global Fidelity Bank Ltd should be wound up
2 Whether liquidators should be appointed

Ratio Decidendi

Global Fidelity Bank Ltd is insolvent and unable to pay its debts; the statutory grounds for winding up are satisfied and liquidators should be appointed.

Court Disposition

winding up order granted; liquidators appointed

Orders

Global Fidelity Bank Ltd is wound up.
Official liquidators are appointed.