30 Oct 1996
BOZELL ASIA (HOLDING) LTD v. CAL INTERNATIONAL LTD AND ANOTHER
- Citation
- BOZELL ASIA (HOLDING) LTD v. CAL INTERNATIONAL LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCW506/1995
The court found BAH had established that debts were owing to it and that CBH was unable to pay its debts within s177(1)(d); the Shareholders' Agreement did not preclude BAH from presenting a winding up petition; the directors' use of s228A was not a sufficient reason to oust the creditors' insolvency petition, and the Section 228A proceedings were stayed to allow compulsory winding up under insolvency provisions to proceed.