In the matter of Baltic Partners Limited [1995] JRC 095 (22 May 1995)

In the matter of Baltic Partners Limited [1995] JRC 095 (22 May 1995)

The court held that Baltic Partners Limited should be wound up as it was unable to pay its debts and it was just and equitable to do so.

Citation
[1995] JRC 095
Parties
Subject Company: Baltic Partners Limited
Jurisdiction
Jersey
Judgment Date
22 May 1995
Procedural Posture
Corporate Insolvency / Judgment
Outcome
application granted
Legal Topics
Winding Up, Liquidation, Shareholder Rights
Corporate Law Insolvency Law Winding Up Liquidation Shareholder Rights

Case Brief

Summary, issues, holding and outcome

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Parties

Baltic Partners Limited

Subject Company

Procedural Posture

Corporate Insolvency / Judgment

Legal Issues

  1. 1 Whether Baltic Partners Limited should be wound up under insolvency proceedings
  2. 2 Whether the interests of shareholders or creditors should prevail in the winding up

Ratio Decidendi

The court held that Baltic Partners Limited should be wound up as it was unable to pay its debts and it was just and equitable to do so.

Court Disposition

application granted

Orders

  • Baltic Partners Limited to be wound up
  • Liquidator to be appointed