THE REGISTRAR OF COMPANIES AND HERITAGE SECURITIES LIMITED [2020]DLHC9977

Date	2020-10-29
Suit No.	SUIT NO. CM/WBC/0256/2020
Citation No.	[2020]DLHC9977

HER LADYSHIP JUSTICE ANGELINA MENSAH-HOMIAH (MRS.)

GLORIA COFIE WITH SHIRLEY OTU FOR THE PETITIONER.

[2020]DLHC9977
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													<main id="main" class="content" style="min-height: 60rem" ><a name="_Hlk53849775">IN THE MATTER OF&nbsp;
HERITAGE SECURITIES&nbsp;&nbsp; LIMITED<o:p></o:p></a>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; HERITAGE SECURITIES&nbsp;&nbsp;&nbsp; LIMITED<o:p></o:p>THE REGISTRAR OF COMPANIES<o:p></o:p>AND<o:p></o:p>HERITAGE SECURITIES&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>&nbsp;[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/0256/2020&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: 29THOCTOBER,
2020<o:p></o:p>

<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"><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;mso-bidi-font-weight:
bold">GLORIA COFIE WITH SHIRLEY OTU FOR THE PETITIONER.<o:p></o:p>

</div>CORAM:<o:p></o:p>HER LADYSHIP JUSTICE ANGELINA
MENSAH-HOMIAH (MRS.)<o:p></o:p><div style="border-top-width: 1.5pt; border-top-color: windowtext; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: windowtext; border-right: none; padding: 1pt 0cm;">

<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
text-align:center;line-height:150%;border:none;mso-border-top-alt:solid windowtext 1.5pt;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">RULING<o:p></o:p>

</div>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. <o:p></o:p>It is
provided under section 4(1), 4 (2) (d) and 4 (3) of Act 180 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;&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>(d) the company
is unable to pay its debts;<o:p></o:p>