23 Jul 2003
RE KEEN LLOYD RESOURCES LTD
- Citation
- RE KEEN LLOYD RESOURCES LTD
- Court
- Court of First Instance
- Case number
- HCCW1134/2002
The company failed to discharge the onus of proving genuine and substantial cross-claims exceeding the petitioning debt and the petitioner's reverse cross-claim; the asserted cross-claims were not believable or sufficiently quantified, the petition was not shown to be improperly motivated where the debt was undisputed, the company is insolvent on the evidence, and accordingly a winding-up order was made with costs to be paid out of the company's assets.