19 Mar 2009
THE COMMISSIONER OF INLAND REVENUE v. FULLBRIGHT CO LTD AND ANOTHER
- Citation
- THE COMMISSIONER OF INLAND REVENUE v. FULLBRIGHT CO LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCW208/2008
The court ordered a compulsory winding up and deferred dissolution because insolvency was established, the Commissioner as the largest creditor had a clear pecuniary interest and locus, there was sufficient prima facie evidence of conduct by directors and transactions (asset disposal and large alleged dividend) warranting independent investigation, and the liquidator had not properly investigated or protected creditors’ interests; consequently deferral and court winding up were necessary in the public and creditors’ interest.