JUDGMENT

Hamid Sultan Abu Backer JC:

[1] This is my judgment in respect of the applicant's notice of motion seeking leave and an order to stay winding up proceedings under s. 243 of Companies Act 1965 (CA) when there is no appeal pending in the Court of Appeal and the winding up order was given as early as 23 June 1997. In this case, the officer of the director of insolvency has filed an affidavit in support of the application. The only creditor has informed the court it has no objection.

[2] The application is based on the following grounds, namely: (i) the respondent has fully satisfied the debts owing to the petitioner; (ii) there are no other debts owing by the respondent to other creditors; (iii) there is nothing for the liquidator to investigate with regard to the conduct of the respondent, its directors and/or its officer. The affidavit in support reads as follows:

The respondent is wholly owned by the applicant and I was advised by my advocates that, for this reason, the applicant is the contributory defined in s. 4(1) and s. 243 of Companies Act 1965 to commence this action. A copy of the Company Search of Respondent printed on 29.8.2007 is exhibited hereto and marked as '