JUDGMENT
INTRODUCTION
This judgment concerns a petition by Robin Alan James McCone under section 84(1) of the Corporate Insolvency and Restructuring Act, 2020 (Act 1015), seeking an order for the official winding up of National Trust Holding Company Limited. That section has been amended by the Corporate Insolvency and Restructuring Act (Amendment) Act, 2020 (Act 1031). The petitioner contends that the respondent is unable to pay its debts as and when they fall due and that, in the circumstances, it is just and equitable for the court to order its winding up. The respondent opposes the petition on two principal grounds: first, that the petitioner lacks the requisite capacity as a creditor to present the petition; and second, that the petitioner has failed to establish that the respondent is unable to pay its debts within the meaning of the Act. The matter was determined on affidavit evidence, exhibits, and written submissions filed by both parties. There was no oral testimony.
BACKGROUND…