THE REGISTRAR OF COMPANIES AND HERITAGE SECURITIES LIMITED

This ruling is in respect of a Petition filed by the Registrar of Companies on 28th November, 2020 under the Bodies Corporate Official Liquidations Act, 1963 (Act 180). The Petitioner seeks an order from this court for the winding up of Cambridge Capital Advisors, the Respondent herein, on the ground that the company is unable to pay its debts pursuant to section 4 of Act 180. It is provided under section 4(1), 4 (2) (d) and 4 (3) of Act 180 that: “4. Procedure on petition to the High Court (1) The Registrar or any other person who is (a) a creditor of the company, (b) a member or contributory of the company, or (c) the Attorney-General, but only on the grounds specified in paragraph (c) of subsection (2), may present a petition to the High Court for the official winding-up of the company. (2) The High Court may order the official winding-up of a company on a petition presented under subsection (1) where, … (d) the company is unable to pay its debts; e) the Court is...