3 Oct 2000
Because the company failed to present any concrete or viable restructuring proposal and appeared only to seek more time, the court refused a further adjournment and made a winding up order on the basis of the undisputed debt, ordering costs to be liquidation expenses.
29 May 2000
Because the company could not immediately pay the undisputed portion of the judgment debt and there was no acceptable arrangement, and because the question of applying the tenant's deposit could be resolved in liquidation, the court made a winding up order and declared the petitioner's costs a liquidation expense.
17 Jan 2000
The court refused the adjournment because there was no evidence that Hohbond would be in a position to discharge the company's debt; accordingly the court made the usual compulsory winding up order and directed that the petitioning creditor's costs be a liquidation expense.
8 Nov 1999
The petitioners, constituting the vast majority by value, held an admitted undisputed debt; no exceptional or persuasive evidence was produced to justify exercising the court's discretion under s.287 to refuse or stay the winding-up petition; accordingly a compulsory winding-up order was required and was made.
19 Jul 1999
Because the Companies owed substantial undisputed debts, the proposed external loan was uncertain and could not be applied to repay the petitioner, and there was no bona fide restructuring proposal offering a realistic prospect of repayment, the court exercised its discretion to refuse further adjournment and made compulsory winding up orders against both companies.
19 Jul 1999
The judge held that the debts were undisputed and substantial, the evidence of a loan or restructuring was speculative and incapable of discharging the debts (and in any event the proposed loan could not be applied to repay the petitioner due to a custodian agreement), there was no realistic prospect of repayment and no basis for further adjournment; accordingly compulsory winding-up orders were made and the petitioners' costs were ordered as liquidation expenses.