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Commentary

110 Petitioning for the winding up of a company

JOINT VENTURES vol 19(2)

110 Petitioning for the winding up of a company

| Commentary

Where the relationship between corporate parties to the joint venture breaks down completely, as an absolute last resort, a dissentient shareholder may choose to petition to have the joint venture company wound up on the ground that it is just and equitable to do so1. However, this is an extremely drastic step to take, and the courts have made it clear that they will only make such an order if there is no practical alternative2.

Some commentators have suggested that two cases have a cumulative effect of making the remedy of winding

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