![Who can decide to put a company into a creditors' voluntary liquidation: the members, the creditors and/or someone else? A case comment on Superpark Oy v Super Park Asia Group Pte Ltd and ors [2021] SGCA 8 | Dentons - Vimarsana News](https://jdsupra-static.s3.amazonaws.com/profile-images/hr.12833_5648.jpg)
Who can decide to put a company into a creditors' voluntary liquidation: the members, the creditors and/or someone else? A case comment on Superpark Oy v Super Park Asia Group Pte Ltd and ors [2021] SGCA 8 | Dentons
Introduction The Court of Appeal (SGCA) had the opportunity to examine an insolvency mechanism that, while long-standing, has in recent years been seeing increased utilisation – creditors’ voluntary winding up of companies, or CVLs as we in the insolvency space fondly call it. In doing so, the SGCA provided pertinent guidance on the law relating to the commencement of a CVL. We take a look at Superpark Oy v Super Park Asia Pte Ltd and ors [2021] SGCA 8 (Superpark). Facts The appellant, Superpark, was the 78.33% majority shareholder of the 1st respondent, Super Park Asia Group Pte Ltd (SP...
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