In the matter of Grand State Investments Ltd [2023] CIFsd 18 (17 March 2023)
The court found that the statutory demand was valid and unsatisfied, and that the debt was not disputed on substantial grounds. Therefore, the company is deemed unable to pay its debts and a winding up order is appropriate.
- Citation
- [2023] CIFsd 18
- Parties
- Subject Company: Grand State Investments Ltd
- Jurisdiction
- Cayman Islands
- Judgment Date
- 17 March 2023
- Procedural Posture
- Company Matter / Judgment
- Outcome
- winding up order granted
- Legal Topics
- Winding Up, Liquidation, Statutory Demand
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 2 Party arguments 2
Parties
Grand State Investments Ltd
Subject Company
Procedural Posture
Company Matter / Judgment
Legal Issues
- 1 Whether Grand State Investments Ltd should be wound up under the Companies Law
- 2 Whether the statutory demand was valid and unsatisfied
Ratio Decidendi
The court found that the statutory demand was valid and unsatisfied, and that the debt was not disputed on substantial grounds. Therefore, the company is deemed unable to pay its debts and a winding up order is appropriate.
Court Disposition
winding up order granted
Orders
- Grand State Investments Ltd is ordered to be wound up
- Official liquidators to be appointed
Full Case Text
Judgment text and source record
Sign in to read
Sign in to read the full judgment text
Sign in to read the full judgment text. Downloads and additional research tools may depend on your plan.
Sign in to read the full judgment