25 Jul 1986
RE KING\'S DYEING & WEAVING FACTORY LTD
- Citation
- RE KING\'S DYEING & WEAVING FACTORY LTD
- Court
- Court of First Instance
- Case number
- HCCW217/1986
The Official Receiver was appointed as provisional liquidator effective 23 July 1986 because the petitioner had established prima facie insolvency and risk to assets, the directors effected a sudden and unexplained voluntary winding-up which did not demonstrate majority creditor support, and the Official Receiver was better placed to protect creditors' and workforce interests than the newly appointed voluntary provisional liquidators.