A winding up in the case of which a directors’ statutory declaration under section 89 has been made is a “members’ voluntary winding up”; and a winding up in the case of which such a declaration has not been made is a “creditors’ voluntary winding up”.
Cases considering section 90 6
Greenbank Technology Limited (In Liquidation), Re
Section 90 makes the existence of a directors’ statutory declaration under section 89 determinative of whether a voluntary winding up is a members’ or creditors’ voluntary winding up. The court applied that consequence to classify the company’s liquidation as a CVL. (see paras [14], [38], [41])
Wesellcnc.Com Ltd, Re
Section 90 was applied to conclude that, because no declaration of solvency was in place when the resolution was passed, the winding up was a creditors’ voluntary winding up rather than a members’ voluntary winding up (see para [2]).
Greenwich Millennium Exhibition Ltd. v New Millennium Experience Company Ltd & Anor
The court held that section 90 determines whether a winding up is a members’ or creditors’ voluntary winding up by reference to whether an effective declaration of solvency has been made. The alleged inaccuracies did not make this declaration ineffective. (see paras [92], [100]-[107])
- Fakhry v Pagden & Anor
- Noal SCSp & Ors v Novalpina Capital LLP & Ors
- Harrington & Charles Trading Company Limited & Ors v Jatin Rajnikant Mehta & Ors
What each judgment says about section 90 is in the case-law panel in the full Act.