F and C Warrior Fund Limited and F and C Warrior II Fund Limited - Ruling
Former joint voluntary liquidators acting as statutory trustees of companies' undistributed assets - section 153 of the Companies Act (2021 Revision) and Order 23 of the Companies Winding Up Rules, 2018 (as amended) - application for directions for remuneration out of companies' undistributed assets and for balance of remaining funds to be transferred bona vacantia to the Financial Secretary of the Cayman Islands - appropriate exercise of Court's discretion under section 48 of Trusts Act and its inherent jurisdiction to direct that former joint voluntary liquidators' fees be capped in accordance with Order 25, rule 5 of the Companies Winding Up Rules, 2018 (as amended). Insolvency; Trusts; Company Dissolution; Liquidation Practice
| Cause Number | FSD 0105/2021 (ASCJ); FSD 0107/2021 (ASCJ) |
|---|---|
| Court | CIGC (FSD) |
| Judge | Smellie CJ |
| Parties | F and C Warrior Fund Limited and F and C Warrior II Fund Limited - Ruling |
| Judgment Date | 2021-05-28 |
| Subject | Former joint voluntary liquidators acting as statutory trustees of companies' undistributed assets - section 153 of the Companies Act (2021 Revision) and Order 23 of the Companies Winding Up Rules, 2018 (as amended) - application for directions for remuneration out of companies' undistributed assets and for balance of remaining funds to be transferred bona vacantia to the Financial Secretary of the Cayman Islands - appropriate exercise of Court's discretion under section 48 of Trusts Act and its inherent jurisdiction to direct that former joint voluntary liquidators' fees be capped in accordance with Order 25, rule 5 of the Companies Winding Up Rules, 2018 (as amended). Insolvency; Trusts; Company Dissolution; Liquidation Practice |
| Filename (current) | 21-05-28-F-C-Warrior-Fund-Limited-Dissolved.pdf |
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