Petitioner Must Prove Company's Debt Neglect or Failure to Settle for Winding Up Petition Success.

Winding up petition - Even if it is “proved to the satisfaction” of the Court that the Respondent company is unable to pay its debts, the Petitioner would also have to show that the company “neglected to pay the sum or to secure or compound for it to the reasonable satisfaction” of the Petitioner. - HC .....

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