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Company – Winding-up. The Secretary of State for Business, Innovation and Skills presented a petition for the winding up of a company in the public interest. The main issue was whether the court should dispense with advertisement of the petition, accelerate the hearing of the petition and grant the winding up order on the day of the hearing. The Chancery Division, held that, in circumstances where the petition was in the public interest, it was entirely appropriate for the court to dispense with advertisement of the petition. The shareholders of the company would not be prejudiced by accelerating the hearing of the petition and, on the facts, the case was one where the company should be wound up in the public interest.
Company – Winding-up. The Secretary of State for Business, Innovation and Skills presented a petition for the winding up of a company in the public interest. The main issue was whether the court should dispense with advertisement of the petition, accelerate the hearing of the petition and grant the winding up order on the day of the hearing. The Chancery Division, held that, in circumstances where the petition was in the public interest, it was entirely appropriate for the court to dispense with advertisement of the petition. The shareholders of the company would not be prejudiced by accelerating the hearing of the petition and, on the facts, the case was one where the company should be wound up in the public interest.
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