17 Dec 2010
EG STRACHAN V DENBIGH PROPERTY LIMITED HC PMN CIV-2010-454-232
- Citation
- openlaw-384f3a73_92c0_43e3_b980_0f1e24de3e49.pdf
- Court
- High Court
There was a catastrophic, ongoing and irretrievable breakdown between equal shareholders and directors producing a deadlock that made the company unable to function; the court could not clearly apportion blame so the applicant was not disentitled by unclean hands, no realistic alternative remedy (eg s 174 share purchase) was available, and an independent liquidator should be appointed to investigate and realise assets; accordingly liquidation under s 241(4)(d) was just and equitable.