IN THE MATTER OF COMPANIES ACT AND IN THE MATTER OF PETITION FOR ADMINSTRATION ORDER BY THE CO
The company demonstrated inability to pay its debts and a management deadlock, and no objection was raised to administration. It is not just and equitable to wind up the company; administration is appropriate to salvage the business.
Source excerpt
- Administration order
- Appointment of administrator
- Company unable to pay debts
- Deadlock in management
- Just and equitable ground