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Page 223

CHAPTER 20
WINDING UP BY THE COURT

The right of a contributory to petition cannot be excluded or limited by the articles.
Re Peveril Gold Mines, Ltd., [1898] 1 Ch. 122. The articles provided that no windingup petition could be presented without the consent of two directors, or unless a resolution to wind up was passed at a general meeting, or unless the petitioner held one-fifth of the share capital. None of these conditions were fulfilled. Held, the company could be wound up as the restrictions were invalid.
On a petition by a contributory on the ground that it is just and equitable to wind the company up, the Court, if satisfied that the contributories are entitled to relief either by winding up the company or by some other means, must make an order for winding up unless it is satisfied that the petitioner is acting unreasonably in seeking to have the company wound up instead of pursuing that other remedy (s. 225).

Petition by Official Receiver.-The Official Receiver can petition for a winding up by the Court, when (i) the company is already in voluntary liquidation; or (ii) the company is being wound up under the supervision of the Court. An order will only be made if the Court is satisfied that the existing liquidation cannot be continued with due regard to the interests of the creditors or contributories (s. 224). It is usually asked for on the ground that a public examination under s. 270 is necessary. (26)

PROCEEDINGS ON PETITION
The winding-up petition is in the form in the rules and sets out (a) the date of the company's incorporation, (b) the address of the registered office, (c) the capital, (d) the objects and (e) the grounds on which the petitioner asks for an order to be made. The petition is stamped £3.
The petition is presented and the Registrar fixes a time and place for the hearing. Seven days before the hearing the petition is advertised in the London Gazette and in a newspaper circulating in the district in which the registered office is situate. The advertisement has the effect of an invitation to the creditors and contributories of the company to support or oppose the petition. The petition is then served on the company at its registered office.
The petition is supported by affidavit verifying the contents of the petition and filed within four days of the presentation of the petition.

26 See Re Jubilee Sites Syndicate, [1899] 2 Ch. 204.

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where is HTML where is HEAD where is TITLE The right of a contributory to petition cannot be excluded or limited by what is articles. Re Peveril Gold Mines, Ltd., [1898] 1 Ch. 122. what is articles provided that no windingup petition could be presented without what is consent of two directors, or unless a resolution to wind up was passed at a general meeting, or unless what is petitioner held one-fifth of what is share capital. None of these conditions were fulfilled. Held, what is company could be wound up as what is restrictions were invalid. On a petition by a contributory on what is ground that it is just and equitable to wind what is company up, what is Court, if satisfied that what is contributories are entitled to relief either by winding up what is company or by some other means, must make an order for winding up unless it is satisfied that what is petitioner is acting unreasonably in seeking to have what is company wound up instead of pursuing that other remedy (s. 225). Petition by Official Receiver.-The Official Receiver can petition for a winding up by what is Court, when (i) what is company is already in voluntary liquidation; or (ii) what is company is being wound up under what is supervision of what is Court. An order will only be made if what is Court is satisfied that what is existing liquidation cannot be continued with due regard to what is interests of what is creditors or contributories (s. 224). It is usually asked for on what is ground that a public examination under s. 270 is necessary. (26) PROCEEDINGS ON PETITION what is winding-up petition is in what is form in what is rules and sets out (a) what is date of what is company's incorporation, (b) what is address of what is registered office, (c) what is capital, (d) what is objects and (e) what is grounds on which what is petitioner asks for an order to be made. what is petition is stamped £3. what is petition is presented and what is Registrar fixes a time and place for what is hearing. Seven days before what is hearing what is petition is advertised in what is London Gazette and in a newspaper circulating in what is district in which what is registered office is situate. what is advertisement has what is effect of an invitation to what is creditors and contributories of what is company to support or oppose what is petition. what is petition is then served on what is company at its registered office. what is petition is supported by affidavit verifying what is contents of what is petition and filed within four days of what is presentation of what is petition. 26 See Re Jubilee Sites Syndicate, [1899] 2 Ch. 204. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 223 where is strong CHAPTER 20 WINDING UP BY what is COURT where is p align="justify" The right of a contributory to petition cannot be excluded or limited by what is articles. Re Peveril Gold Mines, Ltd., [1898] 1 Ch. 122. what is articles provided that no windingup petition could be presented without what is consent of two directors, or unless a resolution to wind up was passed at a general meeting, or unless what is petitioner held one-fifth of what is share capital. None of these conditions were fulfilled. Held, what is company could be wound up as what is restrictions were invalid. On a petition by a contributory on what is ground that it is just and equitable to wind what is company up, what is Court, if satisfied that what is contributories are entitled to relief either by winding up what is company or by some other means, must make an order for winding up unless it is satisfied that what is petitioner is acting unreasonably in seeking to have what is company wound up instead of pursuing that other remedy (s. 225). Petition by Official Receiver.-The Official Receiver can petition for a winding up by what is Court, when (i) what is company is already in voluntary liquidation; or (ii) what is company is being wound up under what is supervision of what is Court. An order will only be made if what is Court is satisfied that what is existing liquidation cannot be continued with due regard to what is interests of what is creditors or contributories (s. 224). It is usually asked for on what is ground that a public examination under s. 270 is necessary. (26) PROCEEDINGS ON PETITION what is winding-up petition is in what is form in what is rules and sets out (a) what is date of what is company's incorporation, (b) what is address of what is registered office, (c) what is capital, (d) what is objects and (e) what is grounds on which what is petitioner asks for an order to be made. what is petition is stamped £3. what is petition is presented and what is Registrar fixes a time and place for what is hearing. Seven days before what is hearing what is petition is advertised in what is London Gazette and in a newspaper circulating in what is district in which what is registered office is situate. The advertisement has what is effect of an invitation to what is creditors and contributories of what is company to support or oppose what is petition. what is petition is then served on what is company at its registered office. what is petition is supported by affidavit verifying what is contents of what is petition and filed within four days of what is presentation of what is petition. 26 See Re Jubilee Sites Syndicate, [1899] 2 Ch. 204. where is Server.Execute("_SiteMap.asp") %

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