In the matter of Energicon Holdings (Caymans) - Reasons for Decision
Application by official liquidators for sanction of proposed sale of shares in two subsidiaries and for approval of remuneration-notice of application given to creditors-written opposition without appearance from minority creditor-refusal of application for adjournment by company unable to instruct counsel because of international sanctions-need to consider merits of minority creditor’s objections-right of access to the court- Companies Act (2022 Revision) section 109(1)-Cayman Islands Constitution, section 7- Companies Winding Up and Restructuring Rules Order 11 rule 3. Insolvency Law; Company Law; Civil Procedure; Constitutional Law; Sanctions and Regulatory Law; Judicial Supervision of Liquidations
| Neutral Citation | [2022] CIGC (FSD) 273 |
|---|---|
| Cause Number | FSD 0273/2020 (IKJ) |
| Court | CIGC (FSD) |
| Judge | Kawaley J |
| Parties | In the matter of Energicon Holdings (Caymans) - Reasons for Decision |
| Judgment Date | 2022-12-02 |
| Subject | Application by official liquidators for sanction of proposed sale of shares in two subsidiaries and for approval of remuneration-notice of application given to creditors-written opposition without appearance from minority creditor-refusal of application for adjournment by company unable to instruct counsel because of international sanctions-need to consider merits of minority creditor’s objections-right of access to the court- Companies Act (2022 Revision) section 109(1)-Cayman Islands Constitution, section 7- Companies Winding Up and Restructuring Rules Order 11 rule 3. Insolvency Law; Company Law; Civil Procedure; Constitutional Law; Sanctions and Regulatory Law; Judicial Supervision of Liquidations |
| Filename (current) | 22-12-02-In-the-matter-of-Energicon-Holdings-Caymans-FSD-273-of-2020-IKJ-Reasons-for-Decision.pdf |
| Statute | Sections cited | Mentions |
|---|---|---|
| Companies Act | 109, 109(1) | 4 |
| Insolvency Practitioners Regulations (subordinate) | — | 1 |
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