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Supreme Court of Vanuatu |
IN THE SUPREME COURT
OF THE REPUBLIC OF VANUATU
Company Case No.05 of 2000
IN THE MATTER OF
SOUTH PACIFIC GAMING & ENTERTAINMENT LIMITED
AND
IN THE MATTER OF THE COMPANIES ACT [CAP. 191]
Ms. Jennifer Laau for the petitioner
Respondent - no appearance
JUDGMENT
This was an application to wound up South Pacific Gaming & Entertainment Limited for not paying up VT6,754,612 and remain unpaid. A notice of demand was personally served at the registered office of B. D. O. Barrett & Sinclair demanding for payment of Vt6,754,612.
Failure to pay the amount this Petition was taken out by the petitioner for wounding up of the said company. Ms. Jennifer Laau for the petitioner applied to wind up the company as the company is unable to pay its debt.
Law
A petitioner has power to make petition to Court for winding up of company under Section 226 for reasons under Section 224 of the Companies Act. Under Section 217 the Court as in this case the Supreme Court has power to make order including order for winding up. As in this case the grounds for winding up will be under Section 224 (e) and that is for unpaid debt. The amount is 6,754,612 which far exceed the requirement of VT10,000 or more and demand was issued.
Therefore pursuant to Section 227 I see no reason why I cannot grant winding up order of the company South Pacific Gaming & Entertainment Limited. I therefore grant the applicant and the South Pacific Gaming & Entertainment Limited is now wound up.
Dated at Port Vila, this 10th day of April, 2001.
R. MARUM MBE
JUDGE.
------------------------------------------------------------------------
IN THE MAGISTRATE’S COURT
OF THE REPUBLIC OF VANUATU
Company Case No.05 of 2000
IN THE MATTER OF
SOUTH PACIFIC GAMING & ENTERTAINMENT LIMITED
AND
IN THE MATTER OF THE COMPANIES ACT [CAP. 191]
Ms. Jennifer Laau for the petitioner
Respondent - no appearance
COURT ORDER
UPON HEARING Ms. Laau for the petitioner, I hereby make the following orders:-
1. That South Pacific Gaming & Entertainment Limited is now wound up;
2. That South Pacific Gaming & Entertainment Limited pay the costs of this application.
Dated at Port Vila, this 10th day of April, 2001.
R. MARUM MBE
JUDGE
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