DIFC 018/2010
Diwan Capital Ltd (in liquidation) v Diwan Capital AG
Type
Case
Court
Dubai International Financial Centre - JUDICIAL AUTHORITY OF THE DUBAI INTERNATIONAL FINANCE CENTRE, COURT OF FIRST INSTANCE
Jurisdiction
Dubai International Financial Centre
Taxonomy
Liquidation, Companies & Corporate Bodies
Copyright
LexisNexis
Decision date
14 Feb 2011
Hearing/Judgment date
14 February 2011
Panel
Sir Anthony Colman
Catchwords
Company – Ratification – Proceedings commenced on behalf of company – Shareholders of defendant company resolving to wind company up but failing to appoint liquidator – Members of company authorising company’s chief executive office (B) to deal with company’s assets – Claimant company successfully bringing proceedings against defendant – B filing notice of appeal – Claimant challenging validity of notice of appeal on basis that prior to appointment of liquidator B having no authority to represent defendant – Whether notice of appeal effective
Article 33 of DIFC Law No. 3/2009, provides, so far as material: ‘(1) In a members' voluntary winding up, the company in general meeting shall appoint one or more liquidators for the purpose of winding up the company's affairs and distributing its assets. (2) On the appointment of a liquidator all the powers of the directors cease, except, so far as the Company in general meeting or the liquidator sanctions their continuance'.