THE REGISTRAR OF COMPANIES AND CAMBRIDGE CAPITAL ADVISORS LIMITED [2020]DLHC9973

Date	2020-10-15
Suit No.	SUIT NO. CM/WBC/0495/2020
Citation No.	[2020]DLHC9973

HER LADYSHIP JUSTICE ANGELINA MENSAH-HOMIAH (MRS.)

GLORIA COFIE WITH YVONNE YAACHE-DACOSTA FOR THE PETITIONER.

[2020]DLHC9973
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													<main id="main" class="content" style="min-height: 60rem" >IN THE MATTER OF&nbsp; CAMBRIDGE
CAPITAL ADVISORS&nbsp; LIMITED<o:p></o:p>AND<o:p></o:p>IN THE MATTER OF THE BODIES CORPORATE (OFFICIAL LIQUIDATIONS)
ACT, 1963 (ACT 180)<o:p></o:p>AND<o:p></o:p>IN THE MATTER OF A PETITION BY THE REGISTRAR OF COMPANIES
PRAYING FOR AN ORDER FOR THE OFFICIAL WINDING UP OF&nbsp; CAMBRIDGE CAPITAL ADVISORS&nbsp; LIMITED<o:p></o:p>THE REGISTRAR OF COMPANIES<o:p></o:p>AND<o:p></o:p>CAMBRIDGE CAPITAL ADVISORS&nbsp;
&nbsp;LIMITED<span style="font-size:12.0pt;line-height:150%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;color:#00B0F0"><o:p></o:p>[HIGH COURT,
ACCRA]<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
text-align:center;line-height:150%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">SUIT NO. CM/WBC/0495/2020&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;DATE:
15TH OCTOBER, 2020<o:p></o:p>

</div>COUNSEL:<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:150%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">GLORIA COFIE WITH
YVONNE YAACHE-DACOSTA FOR THE PETITIONER.<o:p></o:p>

</div>CORAM:<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:150%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">HER LADYSHIP
JUSTICE ANGELINA MENSAH-HOMIAH (MRS.)<o:p></o:p>

</div>RULING<o:p></o:p>By a
Petition filed by the Registrar of Companies on 13th February, 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 it is just and
equitable to do so. Section 4(1) and 4 (2) (e) of Act 180 provides that:<o:p></o:p>“4. Procedure on petition to the
High Court <o:p></o:p>(1) The Registrar or any other
person who is <o:p></o:p>(a) a creditor of the company, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>(b) a member or contributory of
the company, or <o:p></o:p>(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. <o:p></o:p>(2) The High Court may order the
official winding-up of a company on a petition presented under subsection (1)
where, …<o:p></o:p>(e) <span style="font-size: 12pt; line-height: 150%; font-family: &quot;Book Antiqua&quot;, serif; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">the Court is of the opinion that it is just and equitable
that the company should be wound up.”<o:p></o:p>Before I proceed to determine the Petition on the merits, I must
place on record that even though Act 180 was repealed on 30th April
2020 by&nbsp;