Winding up a company on just and equitable grounds

Today is a good day to start the last week of the month. Me and my team Jamie Chan and Alvin Lau Lee Jie were successful in arguing a petition filed by our client for a company to be wound up on the grounds that is is just and equitable to do so.

The basis of our petition was that the substratum has been lost as from the day our client became a shareholder, the understanding between all the shareholders was that the subject company was only meant to have a single business only. This business was lost due to the distributor having terminated the agreement, resulting in the company no longer having any products to sell. The other basis was that the relationship of the shareholders have broken down irretrievably and were no longer on talking terms.

The hours of preparation before and after the filing of the petition were long and hard. It was my intention to show to the Court the entire transaction history of the subject company that since our client became a shareholder it only has a single business and also how the relationship between the shareholders have broken down. This unfortunately resulted in the petition being voluminous out of necessity.

The efforts paid off to me and my team today when we managed to convince the learned judge the merits of our petition and he allowed the petition. I would have attached the 1st volume of the petition but unfortunately it is too big to attach.

Hopefully there will be a written grounds of judgment written one day.