23 Jan 2008
LAKE VIEW GOLF CLUB INC & ANOR V LAKE VIEW GOLF RESORT LTD HC AK CIV 2007-404-003241
- Citation
- openlaw-81855ac5_6768_4419_a876_2b7bc4b06937.pdf
- Court
- High Court
The court found that either a binding prepayment agreement existed or, alternatively, the deed of encumbrance entitled the plaintiffs to recover maintenance costs; the statutory demand created a presumption of inability to pay under s287 which the defendant failed to rebut with specific evidence on cashflow; accordingly the company was insolvent and there was no genuine and substantial dispute to prevent winding up, warranting appointment of a liquidator.