Connemara Minings Company Plc -v- Companies Acts 1963-2012 [2013] IEHC 225 (10 May 2013)

Connemara Minings Company Plc -v- Companies Acts 1963-2012 [2013] IEHC 225 (10 May 2013)

A fully paid-up shareholder has standing to petition for winding up under Irish law if statutory requirements are met, regardless of tangible interest; petitioner failed to prove company was unable to pay its debts as they fell due; no just and equitable ground established.

Source-derived case information.

Citation
[2013] IEHC 225
Parties
Petitioner: Trampus Limited; Respondent: Connemara Mining Company Plc; Contributory: Davycrest Nominees (on behalf of John Teeling); Contributory: James Finn; Creditor: John Teeling; Creditor: James Finn
Jurisdiction
Ireland
Judgment Date
10 May 2013
Procedural Posture
Winding Up Petition / Final Judgment
Outcome
petition dismissed
Legal Topics
Winding Up, Locus Standi, Solvency, Just and Equitable Ground
Company Law Insolvency Law Winding Up Locus Standi Solvency Just and Equitable Ground

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Parties

Trampus Limited

Petitioner

Connemara Mining Company Plc

Respondent

Davycrest Nominees (on behalf of John Teeling)

Contributory

James Finn

Contributory

John Teeling

Creditor

James Finn

Creditor

Procedural Posture

Winding Up Petition / Final Judgment

Legal Issues

  1. 1 Does a fully paid-up shareholder have standing to petition for winding up on insolvency or just and equitable grounds?
  2. 2 Is the company unable to pay its debts as they fall due?
  3. 3 Is it just and equitable to wind up the company?

Ratio Decidendi

A fully paid-up shareholder has standing to petition for winding up under Irish law if statutory requirements are met, regardless of tangible interest; petitioner failed to prove company was unable to pay its debts as they fell due; no just and equitable ground established.

Court Disposition

petition dismissed

Orders

  • petition to wind up Connemara Mining Company Plc dismissed