Judgment

In the Matter of Zamin Ferrous Ltd - Judgment

FSD 0012/2023 (DDJ) · 2023-02-23

Restoration of a struck‑off company; construction and application of Companies Act (2023 Revision) s.159; whether contingent creditors have standing; application of GCR O.102 r.18 and Companies Winding Up Rules O.3 r.6; principles governing restoration including whether the company was carrying on business or whether restoration is “just”; relevance of prior authorities (Margara Shipping; Mango Jam) confirming contingent creditor status; effect of foreign proceedings and substantial claim (US$17M) on standing and justice of restoration. Companies Act s.159; Restoration of Companies; Insolvency Procedure; Court’s Discretion. Company Law; Insolvency; Civil Procedure

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Cause Number	FSD 0012/2023 (DDJ)
Court	CIGC (FSD)
Judge	Doyle J
Parties	In the Matter of Zamin Ferrous Ltd - Judgment
Judgment Date	2023-02-23
Subject	Restoration of a struck‑off company; construction and application of Companies Act (2023 Revision) s.159; whether contingent creditors have standing; application of GCR O.102 r.18 and Companies Winding Up Rules O.3 r.6; principles governing restoration including whether the company was carrying on business or whether restoration is “just”; relevance of prior authorities (Margara Shipping; Mango Jam) confirming contingent creditor status; effect of foreign proceedings and substantial claim (US$17M) on standing and justice of restoration. Companies Act s.159; Restoration of Companies; Insolvency Procedure; Court’s Discretion. Company Law; Insolvency; Civil Procedure
Filename (current)	23-02-23-In-the-matter-of-Zamin-Ferrous-Ltd-Judgment-FSD-12-of-2023-DDJ.pdf

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In the Grand Court of the Cayman Islands — Financial Services Division

Cause No. FSD 0012/2023 (DDJ)

In the Matter of Zamin Ferrous Ltd - Judgment

Before
Doyle J

Judgment delivered 2023-02-23

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Digitally signed by Advance Performance Exponents
Inc
Date: 2023.03.10 16:47:19 -05:00
Reason: Apex Certified
Location: Apex

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