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In the Matter of the Companies Law (2012 Revision) (As Amended) and in the Matter of Aramid Entertainment Fund Limited Cause No. FSD 95 of 2013, per Foster J (25 October 2013)

August 2013 LiquidationWinding UpInsolvency

CAYMAN ISLANDS

GRAND COURT

WINDING UP – LIABILITY FOR COSTS WHEN THE PETITION IS WITHDRAWN

This Ruling concerns liability, in the particular circumstances, for costs on the withdrawal of a creditor’s winding up petition. The company concerned contended that the petitioner should pay the company’s costs of and incidental to the petition. The petitioner contended that there should be no order for costs so that the parties should each bear their own costs or, alternatively, that a decision on liability for costs in each respect of the withdrawn petition should await the outcome of litigation between the petitioner and company in another jurisdiction.

 

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In the Matter of the Companies Law (2012 Revision) (As Amended) and in the Matter of Aramid Entertainment Fund Limited Cause No. FSD 95 of 2013, per Foster J (25 October 2013)

 

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