[1983] KEHC 1 (KLR)
The court found that the petitioning and supporting creditors had proven their claims against Trio Trading Company Limited, as evidenced by decrees in civil suits. The requirements for a winding-up order under the Companies Act were satisfied, and no opposition was presented by the company. The court therefore...
Source-derived case information.
- Citation
- [1983] KEHC 1 (KLR)
- Parties
- Applicant: Swiss Chemical Company Limited; Respondent: Trio Trading Company Limited; Applicant: Kentazuga Limited
- Court
- High Court
- Court Station
- High Court at Nairobi (Milimani Law Courts)
- Jurisdiction
- Kenya
- Case Number
- Bankruptcy Cause 15 of 1983
- Procedural Posture
- Winding Up Cause / Ruling
- Outcome
- petition allowed; company ordered wound up
- Legal Topics
- Company Winding Up, Creditor Petitions, Insolvency Proceedings
- Source Language
- en
Source-derived case record
Summary, issues, holding and outcome
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Parties
Swiss Chemical Company Limited
Applicant
Trio Trading Company Limited
Respondent
Kentazuga Limited
Applicant
Procedural Posture
Winding Up Cause / Ruling
Legal Issues
- 1 Whether the debts owed to the petitioning and supporting creditors have been proved to justify a winding-up order against the company.
- 2 Whether the requirements under the Companies Act for winding up have been satisfied.
Ratio Decidendi
The court found that the petitioning and supporting creditors had proven their claims against Trio Trading Company Limited, as evidenced by decrees in civil suits. The requirements for a winding-up order under the Companies Act were satisfied, and no opposition was presented by the company. The court therefore granted the winding-up order and awarded costs to the petitioning and supporting creditors to be paid from the assets of the company.
Court Disposition
petition allowed; company ordered wound up
Orders
- Trio Trading Company Limited is hereby ordered to be wound up.
- The petitioning creditor and the supporting creditor are awarded costs of the petition, to be paid out of the assets of the company.
Full Case Text
Judgment text and source record
11 paragraphs
REPUBLIC OF KENYA
IN THE HIGH COURT OF KENYA
AT NAIROBI (NAIROBI LAW COURTS)
Bankruptcy & Winding-Up Cause 15 of 1983
Trio Trading Co Ltd v In the Matter of Companies Act
RULING
This winding-up Petitione has been brought against Trio Trading Company Limited under the provision of the Companies Act Cap 486 of the Laws of Kenya.
In support of the Petition is an affidavit deponed by the Petitioning Creditor Swiss Chemical Company Limited.
In addition there is an affidavit deponed by a supporting creditor Kentazuga Limited who have obtained two decrees in two different Civil Suits against the Company and are requesting for the order as well. I am satisfied that the two creditors claims have been proved. I hereby grant the Order as prayed and Order that Trio Trading Company Limited be wound up and the Petitioner Creditor and the Supporting Creditor to have costs of the Petition. This to be paid out of the Assets of the Company.
June 16,1983
Owuor, J