Commercial HC orders winding up of Aristons (Pvt) Ltd

CEYLON TODAY | Published: 2:00 AM Dec 4 2021

Commercial High Court Judge Priyantha Fernando, on an application made by Ceyquartz MBI (Pvt) Ltd., ordered the winding up of Aristons (Pvt) Ltd.

Ceyquartz MBI (Pvt) Ltd of No.34/1, Dutch House, Castle Street Colombo 8, filed a winding up application, seeking to wind up Aristons (Pvt) Ltd. on the basis that Aristons (Pvt) Ltd. is unable to pay its debts. 

On an application made by Ceyquartz MBI (Pvt) Ltd, Court gave an order, on 12 February 2021, to publish the winding up notice in the newspapers and fixed the winding up application for inquiry on 25. 05. 2022.

Upon the notice being published in the newspapers, Aristons (Pvt) Ltd., 10.02.2021, made an application to Court seeking the recalling of the winding up order made by the Court and when the said application came up for oral submissions, Counsel appearing on behalf of the company sought to be wound up, informed Court that, subsequent to making the application to recall the winding up notice, both parties had made several attempts to resolve the dispute amicably, and even exchanged terms of settlement between them, but nothing materialised. Therefore, the company sought to be wound up has now agreed to consent to winding up Aristons (Pvt) Ltd. and withdrew the objections filed on behalf of the company.

Counsel appearing on behalf of the petitioner company informed Court that two creditors have given notice in regard to the winding up application, and both creditors have not objected to winding up of Aristons (Pvt) Ltd, and as the company sought to be wound up has now agreed to wind up the company, Court could now make an order to wind up the company.

Having heard the submissions made by both parties, Court made an order to wind up Aristons (Pvt) Ltd, and further made an order for the appointment of the liquidator and directed the Petitioner to file necessary papers for the appointment of the liquidator, and ordered to call this case on 12.01.2022 for the liquidator’s report.

President’s Counsel Palitha Kumarasinghe with Attorney-at-Law Harith de Mel instructed by DL & F de Saram appeared on behalf of Ceyquartz MBI (Pvt) Ltd.

President’s Counsel Kuvera de Zoysa with Attorneys-at-Law Niranjan Arulpragasam and Ameer Mahuroof, instructed by Attorney-at-Law Anoma Gunathileke, appeared on behalf of Aristons (Pvt) Ltd.


CEYLON TODAY | Published: 2:00 AM Dec 4 2021

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