30 Oct 1996
PETER DE KRASSEL AND ANOTHER v. FRANCIS ROXAS MORAN AND OTHERS
- Citation
- PETER DE KRASSEL AND ANOTHER v. FRANCIS ROXAS MORAN AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP3209/1995
The court concluded CBH was unable to pay its debts and that BAH had established a debt due to it; the Shareholders' Agreement did not bar BAH from presenting a winding up petition; although the use of section 228A by directors was open to question, the appropriate remedy was to stay the section 228A proceedings and allow compulsory winding up on insolvency grounds to proceed.