Read the full judgment text of HCCW 000685/1998 on BabelCite. This High Court CFI judgment was delivered on 8 April 1999.
1. This is a creditor's petition to wind up Orchard Limited ("the Company"). The debt upon which the statutory demand was based arises out of a Guarantee dated 4 July 1998 given by the Company in respect of obligations of Seacon Shipping Limited ("Seacon") under a charterparty. The petition was opposed on the ground that there was no consideration for the Guarantee which is therefore void and unenforceable and alternatively that there was a total failure of consideration in that the Petitioner f