Marine Enterprise Co (Pty) Ltd v Companies (294 of 2003) [2006] SCSC 88 (5 December 2006)
The company is unable to pay its debts, is not functioning, and it is just and equitable to wind it up. All statutory requirements have been met and no objections have been raised.
Source-derived case information.
- Citation
- [2006] SCSC 88
- Parties
- Applicant: Marine Enterprise Co (Pty) Ltd
- Court
- Supreme Court
- Jurisdiction
- Seychelles
- Case Number
- 294 of 2003
- Procedural Posture
- Company Winding Up Petition / Final Order
- Outcome
- Petition for winding up granted
- Legal Topics
- Winding Up of Companies, Dissolution of Company, Insolvency
- Source Language
- en
Source-derived case record
Summary, issues, holding and outcome
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Parties
Marine Enterprise Co (Pty) Ltd
Applicant
Procedural Posture
Company Winding Up Petition / Final Order
Legal Issues
- 1 Whether the company should be wound up under the Companies Act 1972
Ratio Decidendi
The company is unable to pay its debts, is not functioning, and it is just and equitable to wind it up. All statutory requirements have been met and no objections have been raised.
Court Disposition
Petition for winding up granted
Orders
- The company Marine Enterprise Co (Pty) Ltd is wound up.
- The Registrar of Companies to be informed accordingly.
Full Case Text
Judgment text and source record
1 paragraphs
IN THE SUPREME COURT OF SEYCHELLES IN THE MATTER OF MARINE ENTERPRISE CO (PTY) LTD AND IN THE MATTER OF THE COMPANIES ACT 1972 Civil Side No. 294 of 2003 Mr. F. Elizabeth for the Applicant ORDER Mr. Frank Elizabeth has informed the Court that the applicants have complied with all the requirements of the Companies Act and no objection has been raised to the dissolution of the company. The petition for winding up has been filed by one of the four directors of the company averring that the company is no longer functioning as it is unable to pay its debts and further that it is just and equitable that the company should be wound up. It has also been averred that the company has no intention to review its license to operate the business. Indeed the Court is satisfied that the auditor’s report and other documentation have been filed as required by the law. In those circumstances, the order is hereby made winding up the company called “Marine Enterprise Co (Pty) Ltd” incorporated on the 24th October, 2000. The Registrar of Companies to be informed accordingly. D. GASWAGA JUDGE Dated this 6th day of December, 2006.