IN RE COMPANIA MERABELLO SAN NICHOLAS S.A.

[1972] 2 Lloyd's Rep. 268

CHANCERY DIVISION

Before Mr. Justice Megarry

Company - Winding up - Unregistered Panamanian company owning one ship - Petition to wind up company brought by owners of cargo and cargo underwriters - Petition brought so that company's claims against its third-party liability insurers might be vested solely in petitioners under Third Parties (Rights against Insurers) Act, 1930 - Petition opposed by company's insurers - Jurisdiction of Court to make winding-up order in circumstances - Exercise of Court's discretion - Whether necessary to show that company had carried on business within jurisdiction - Whether company's claim against insurers an "asset" - Whether petitioners had a sufficient interest - Companies Act, 1948, sects. 399, 400 - Third Parties (Rights against Insurers) Act, 1930, sect. 1 (1).