Judgment
In re AWAL Finance Company Ltd and Related AWAL Entities - Ruling
FSD 0002/2010 to 0009/2010 (ASCJ) · 2011-06-22
JOLs apply to dispense with liquidation committees due to “practical impossibility”; JOLs classify companies as solvent under CWR O.8 r.1; AHAB challenges based on contingent claim of US$9.2bn; court holds JOLs must consider contingent liabilities under s.139(1); AWALCOs at best of doubtful solvency; dispensation refused; liquidation committees must be convened
Full metadata
| Cause Number | FSD 0002/2010 to 0009/2010 (ASCJ) |
|---|---|
| Court | CIGC (FSD) |
| Judge | Smellie CJ |
| Parties | In re AWAL Finance Company Ltd and Related AWAL Entities - Ruling |
| Judgment Date | 2011-06-22 |
| Subject | JOLs apply to dispense with liquidation committees due to “practical impossibility”; JOLs classify companies as solvent under CWR O.8 r.1; AHAB challenges based on contingent claim of US$9.2bn; court holds JOLs must consider contingent liabilities under s.139(1); AWALCOs at best of doubtful solvency; dispensation refused; liquidation committees must be convened |
| Filename (current) | 11-06-22-Insolvency-Practitioners-Regulations-2008-and-the-Companies-Winding-Up-Amendment-Rules-2010-In-re.pdf |
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