Right to Petition for the Winding Up of a Company

A member has the right to petition the High Court for the winding up of a company on a number of grounds. A member will usually exercise this right where, for example:

• There is a deadlock in the management of the company
• The objectives of the company can no longer be achieved
• The company is being used as an instrument of fraud
• The company has members who no longer wish to conduct business with each other