BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
INSOLVENCY AND COMPANIES LIST (ChD)
IN THE MATTER OF CINEWORLD GROUP PLC
AND IN THE MATTER OF THE INSOLVENCY ACT 1986
7 Rolls Buildings Fetter Lane London EC4A 1NL |
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B e f o r e :
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CINEWORLD GROUP PLC |
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2nd Floor, Quality House, 6-9 Quality Court, Chancery Lane, London WC2A 1HP.
Telephone No: 020 7067 2900. DX 410 LDE
Email: info@martenwalshcherer.com
Web: www.martenwalshcherer.com
THE RESPONDENTS did not appear and were not represented
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Crown Copyright ©
MR. JUSTICE LEECH:
"The court may make an administration order in relation to a company only if satisfied — (a) that the company is or is likely to become unable to pay its debts, and (b) that the administration order is reasonably likely to achieve the purpose of administration."
"(1) The administrator of a company must perform his functions with the objective of — (a) rescuing the Company as a going concern, or (b) achieving a better result for the company's creditors as a whole than would be likely if the Company were wound up (without first being in administration), or (c) realising property in order to make a distribution to one or more secured or preferential creditors."