In the matter of Platinum Partners Value Arbitrage Fund [2016] CIFsd 30 (16 December 2016)

In the matter of Platinum Partners Value Arbitrage Fund [2016] CIFsd 30 (16 December 2016)

The fund was insolvent and unable to pay its debts, and there was no opposition to the winding up. The statutory grounds for winding up were satisfied, and it was appropriate to appoint official liquidators.

Citation
[2016] CIFsd 30
Parties
Subject Entity: Platinum Partners Value Arbitrage Fund
Jurisdiction
Cayman Islands
Judgment Date
16 December 2016
Procedural Posture
Winding Up Petition / Judgment
Outcome
winding up order granted
Legal Topics
Winding Up of Funds, Appointment of Liquidators
Insolvency Company Law Winding Up of Funds Appointment of Liquidators

Case Brief

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Parties

Platinum Partners Value Arbitrage Fund

Subject Entity

Procedural Posture

Winding Up Petition / Judgment

Legal Issues

  1. 1 Whether Platinum Partners Value Arbitrage Fund should be wound up under the Companies Law
  2. 2 Whether official liquidators should be appointed

Ratio Decidendi

The fund was insolvent and unable to pay its debts, and there was no opposition to the winding up. The statutory grounds for winding up were satisfied, and it was appropriate to appoint official liquidators.

Court Disposition

winding up order granted

Orders

  • The fund is ordered to be wound up.
  • Official liquidators are appointed over the fund.