Read the full judgment text of HCCW 445/2020 on BabelCite. This High Court CFI judgment was delivered on 3 November 2021.
1. On 29 December 2020 the Petitioner, the Bank of Baroda, issued a petition seeking an order to wind up the Company on the grounds of insolvency. In order to prove insolvency, the Petitioner relies on a statutory demand served on 27 November 2020 in respect of a debt totalling US$2,374,010 arising under a Facility provided by the Petitioner to the Company (“ debt ”). The Facility included purchasing and discounting bills and a credit line.