The Insolvency and Companies Court, in A Company -v-
Visionary Future LLC & ors. (unreported), has dismissed an
application by a company seeking to strike out, or alternatively
restrain advertisement of, a winding-up petition brought by
creditors. The judgment underlines the critical importance of
providing proper and substantiated evidence in insolvency
proceedings.
Lewis Silkin acted for the petitioners (the respondents in the
application), who have since been successful in winding up the
company in question.
Background
The petitioners had invested a significant sum into the company
by way of convertible loan notes with a repayment date of 31
December 2025; those convertible loan notes also accrued interest
which would fall…