23 Dec 2009
RE CHECKERS LTD
- Citation
- RE CHECKERS LTD
- Court
- Court of First Instance
- Case number
- HCCW27/2009
The court accepted the Receivers' revised assessments that DIL (and, derivatively, DJL) appeared insolvent such that granting validation orders to pay employees would create an unfair preference and risk prejudicing other creditors and potential substituted petitioners; accordingly validation orders were dismissed, the Receivers were appointed provisional liquidators of DIL, DJL and Checkers, and winding up orders were made for all three companies, with costs reserved for written submissions.