27 Mar 2010
TAI PING TRADING COMPANY LTD V REGINA ENTERPRISES LTD HC AK CIV 2009-404-007754
- Citation
- openlaw-7ff3c3d0_522e_4976_8e2b_3701c92498e1.pdf
- Court
- High Court
Termination of the liquidation was justified under Companies Act 1993 s250 because creditors (other than the plaintiff) and the liquidator's costs were paid or provided for, shareholders supported termination, sufficient funds were available and the disputed amount would be held by the Official Assignee as stakeholder pending District Court proceedings, thereby protecting the plaintiff's potential claim while allowing a solvent company to resume business.