Aug 2013
CAYMAN ISLANDS
GRAND COURT
RESTORATION OF COMPANY TO THE REGISTER OF COMPANIES – CONDITIONS WHICH COURT MAY IMPOSE FOR RESTORATION
On 1 April 2013, the Judge made an order that Grencorp Ltd (the “Company”), an exempted company, be restored to the register of companies and that the petitioning Creditor pay the re-instatement fee equivalent to the original incorporation fee and on the condition that the annual return fees and penalties as specified by the Registrar also be paid. By this Ruling the Judge gave his reasons for the Order as it was questioned whether the Court may or should order such restoration on condition of payment by the petitioning creditor of the arrears of annual fees and penalties.