| Commentary

124 Petitioning for the winding-up of the company

| Commentary

3: PETITION FOR THE WINDING-UP OF THE COMPANY

124 Petitioning for the winding-up of the company

As an absolute last resort, a dissentient shareholder may bring a petition to have the company wound up on the ground that it is just and equitable to do so1. However, this is an extremely drastic step to take and the courts have made it clear that they will only make such an order if there is no practical alternative2.

Some commentators have suggested that the cumulative effect of two cases means that the remedy of winding up a company on the just and equitable ground

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