24 Jun 2011
GEORGE APOSTOLAKIS V CAFE ITALIANO WELLINGTON LIMITED HC WN CIV-2011-485-583
- Citation
- openlaw-392252f1_0ce1_4cd7_a090_7d52be6ea319.pdf
- Court
- High Court
The company is insolvent on its balance sheet and unable to meet likely IRD demands; the 50/50 shareholders have suffered an irretrievable breakdown in trust and confidence and cannot agree a funded buyout or viable restructuring; therefore it is just and equitable to wind up the company under s 241(4)(d) of the Companies Act 1993.