The Liquidator of Northumberland General Insurance Company brought an unopposed motion to pass its accounts, approve its activities and fees, and obtain a declaration regarding the ownership of the company's shares.
The company had been in liquidation since 1985.
The Court approved the accounts and fees, finding them reasonable.
The Court also found it had jurisdiction under the Winding-Up and Restructuring Act and the Courts of Justice Act to issue a declaratory order regarding share ownership to assist in the potential distribution of a surplus.
After reviewing the complex corporate history and two alternative chains of ownership, the Court declared that Brian Reeve is the owner of 100% of the share capital of Northumberland.
