9 Jul 2008
SAITEYSMCMAHON PROPERTY LIMITED V MORNING STAR ENTERPRISES LIMITED HC AK CIV 2007-404-006632
- Citation
- openlaw-10ebf5da_ac0e_4ef1_a6e9_a0b9bd1a8123.pdf
- Court
- High Court
Defendant is insolvent, there is no evidence of creditor opposition, and the defendant's contention that speculative recovery from the St Lukes development justifies refusal or adjournment is unsupported and commercially risky; capitalised interest and uncertain completion render the prospect of recovery insufficient to deny liquidation; appointment of liquidators is necessary to investigate intercompany transactions and protect creditors, therefore the winding up order is granted and liquidators appointed.