15 Apr 2008
TAYAWA AND FIGURACION V I AM IMPORT EXPORT & DISTRIBUTOR LTD HC WN CIV 2008-485-764
- Citation
- openlaw-9acf964e_3385_4435_b461_a17f52cd7d9a.pdf
- Court
- High Court
Given credible evidence of insolvency, a complete deadlock among equal-share directors, and imminent loss of value of perishable stock unless sold immediately, together with an undertaking as to damages and consents to act by experienced liquidators, the Court was satisfied that urgency and the need to preserve assets justified appointment of interim liquidators under s 246.
- Interim liquidator
- S 246 companies act 1993
- Just and equitable winding up
- Urgency and asset preservation
- Prima facie case for liquidation