Judgment
In the matter of Uphold Ltd - Judgment on Strike‑Out Applications
FSD 0134/2022 (NSJ) · 2024-04-25
Applications to strike out contributory’s winding up petition – whether the petition was bound to fail either assuming the facts averred were true or on the basis of the uncontested primary facts as proved on the strike-out applications – substantial evidence adduced – application to strike out the claim for a buy-out order against the Fifth Respondent – whether a buy-out order could be made against a shareholder not alleged to have participated in the alleged misconduct on which the petition was based. Company Law; Insolvency; Shareholder Remedies
Full metadata
| Cause Number | FSD 0134/2022 (NSJ) |
|---|---|
| Court | CIGC (FSD) |
| Judge | Segal J |
| Parties | In the matter of Uphold Ltd - Judgment on Strike‑Out Applications |
| Judgment Date | 2024-04-25 |
| Subject | Applications to strike out contributory’s winding up petition – whether the petition was bound to fail either assuming the facts averred were true or on the basis of the uncontested primary facts as proved on the strike-out applications – substantial evidence adduced – application to strike out the claim for a buy-out order against the Fifth Respondent – whether a buy-out order could be made against a shareholder not alleged to have participated in the alleged misconduct on which the petition was based. Company Law; Insolvency; Shareholder Remedies |
| Filename (current) | 24-04-25-In-the-matter-of-Uphold-Ltd-Judgment-on-Strike-Out-Applications.pdf |
Legislation cited
| Statute | Sections cited | Mentions |
|---|---|---|
| Companies Act | 95(3)(d) | 3 |
| Companies Winding Up Rules (subordinate) | 11 (1) | 1 |
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