Principle

COMPANY LAW — Winding-Up — Inability to Pay Debts — Need for Caution in Terminating Life of a Company

Area of law
COMPANY LAW
Court
Supreme Court

Winding-up a company requires utmost caution. The principle applies to company law. The court considers societal impact and employee hardship. The rule protects against irreversible damage. The court will halt petitions on disputed debts. The principle is well-established.

Read the full principle with Sanctum

Sanctum is the key to all NLC content: judgments, principles, statutes, rules of court and court forms. Choose a plan from 1 month to 36 months.

Get Sanctum Access I’m a member — Log in