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Judgment · jid 5315 · pdb #3459

In re AWAL Finance Company Ltd and Related AWAL Entities - Ruling

FSD 0002/2010 to 0009/2010 (ASCJ) · 2011-06-22

JOLs apply to dispense with liquidation committees due to “practical impossibility”; JOLs classify companies as solvent under CWR O.8 r.1; AHAB challenges based on contingent claim of US$9.2bn; court holds JOLs must consider contingent liabilities under s.139(1); AWALCOs at best of doubtful solvency; dispensation refused; liquidation committees must be convened

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