Adams & Co v Lyceum Theatre Limited [1912] ZAWLD 31 (17 September 1912)

Company .-Liquidation .-Petition for .-Inability to pay Debts.-Allegations in Petition.-Act 31 of 1909, secs. 112 and 113.

Under sec. 112, sub-sec. 6, of Act 31, of 1909, the Court may place a company in liquidation on the ground: that it is unable to pay its "debts. Sec. 113 of the Act states that a company shall be deemed unable to pay· its debts if, inter alia, it has neglected for three weeks after demand to pay a debt of over £50: -
Held, that in a petition for the liquidation of a company, on the ground that it was unable to pay its debts, it was not necessary for a creditor to allege or prove a failure to pay a debt for three weeks after demand, nor was it necessary to set out the grounds of the company's inability to pay its debts.