In the matter of Atlantic Income Limited [1996] JRC 095 (23 May 1996)

In the matter of Atlantic Income Limited [1996] JRC 095 (23 May 1996)

The court found that Atlantic Income Limited was unable to pay its debts and that the statutory requirements for winding up were satisfied, warranting a winding up order.

Citation
[1996] JRC 095
Parties
Subject Company: Atlantic Income Limited
Jurisdiction
Jersey
Judgment Date
23 May 1996
Procedural Posture
Company Matter / Judgment
Outcome
winding up order granted
Legal Topics
Winding Up, Liquidation, Company Management
Company Law Insolvency Winding Up Liquidation Company Management

Case Brief

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Parties

Atlantic Income Limited

Subject Company

Procedural Posture

Company Matter / Judgment

Legal Issues

  1. 1 Whether Atlantic Income Limited should be wound up
  2. 2 Whether the requirements for liquidation are met

Ratio Decidendi

The court found that Atlantic Income Limited was unable to pay its debts and that the statutory requirements for winding up were satisfied, warranting a winding up order.

Court Disposition

winding up order granted

Orders

  • Atlantic Income Limited is to be wound up
  • A liquidator is to be appointed