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Offshore Cases

In the Matter of China Shanshui Cement Group Limited (Unreported, 25 November 2015)

November 2015 Insolvency Winding Up Liquidation

CAYMAN ISLANDS

GRAND COURT

WINDING UP PETITION - APPLICATION BY SHAREHOLDERS TO STRIKE OUT PETITION ON GROUNDS DIRECTORS NOT AUTHORISED

The Grand Court of the Cayman Islands confirmed, in a decision by Mangatal J, that the directors of a company do not have statutory authority to petition the Court to wind up the company (whether the company is solvent or insolvent) without the sanction of a resolution of shareholders, unless the articles of association of the company expressly provide otherwise.

In this case a winding up petition, submitted by the directors of the company, was struck out for lack of standing to file the petition.

 

To continue reading full articles in PDF format:
In the Matter of China Shanshui Cement Group Limited (Unreported, 25 November 2015)

 

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EDITOR & HEAD OF LITIGATION BERMUDA

Christian R. Luthi
Tel: +1 441 298 7814
Email: christian.luthi@conyersdill.com


Head of Litigation British virgin islands

Mark J. Forte
Tel: +1 284 852 1113
Email: mark.forte@conyersdill.com


Head of Litigation Cayman Islands

Paul Smith
Tel: +1 345 814 7777
Email: paul.smith@conyersdill.com


HEAD OF THE ASIA DISPUTES & RESTRUCTURING GROUP

Nigel K. Meeson, QC
Tel: +852 2842 9553
Email: nigel.meeson@conyersdill.com

Offshore Cases

In the Matter of China Shanshui Cement Group Limited (Unreported, 25 November 2015)

20 November 2015

CAYMAN ISLANDS

GRAND COURT

WINDING UP PETITION - APPLICATION BY SHAREHOLDERS TO STRIKE OUT PETITION ON GROUNDS DIRECTORS NOT AUTHORISED

The Grand Court of the Cayman Islands confirmed, in a decision by Mangatal J, that the directors of a company do not have statutory authority to petition the Court to wind up the company (whether the company is solvent or insolvent) without the sanction of a resolution of shareholders, unless the articles of association of the company expressly provide otherwise.

In this case a winding up petition, submitted by the directors of the company, was struck out for lack of standing to file the petition.

 

To continue reading full articles in PDF format:
In the Matter of China Shanshui Cement Group Limited (Unreported, 25 November 2015)

 

 

EDITOR & HEAD OF LITIGATION BERMUDA

Christian R. Luthi
Tel.: +1 441 298 7814
Email.: christian.luthi@conyersdill.com


Head of Litigation British virgin islands

Mark J. Forte
Tel.: +1 284 852 1113
Email.: mark.forte@conyersdill.com


Head of Litigation Cayman Islands

Paul Smith
Tel.: +1 345 814 7777
Email.: paul.smith@conyersdill.com


HEAD OF THE ASIA DISPUTES & RESTRUCTURING GROUP

Nigel K. Meeson, Q.C.
Tel.: +852 2842 9553
Email.: nigel.meeson@conyersdill.com