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Wind Up Order

Wind Up Order

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Published by: yourpublicpublisher on Jul 31, 2012
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05/13/2014

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CAUSE~O.FSD93OF2012(AI-I])INTHEGRANDCOURTOf'THECAYMANISLANDSPU,ANCIAlSERVICESDIVISIONfNTHEMArrEROF
THECOMPANIESLAW
(2011REVISION)ANDINTHEMATTEROFCHINAMEDICALTECHNOLOGIE-S
1
INCORDERUPONHEARINGCounselforWilmingtonTrustCompany(the"Petitioner")A'TOUPONREADINGalloftheAffidavitssworninthematterandexhibitsthereto,thePetitionanddocumentsfiledonrecord.ITISHEREBYORDEREDTHAT:(1)TheCompanybewoundup
by
the
Court
pursuanttoSection92(d)ofthe
Companies
Law
(20"11
Revision)
(2)Kenneth
Krys
of
Kl{yS
Globalof
Governors
Square,
Building
6,2
nd
Floor,
23LimeTree
Bay
Avenue,
P.O.Box31237,KYJ~1205J
George
Town,
Grand
Cayman,CaymanIslandsandCosimaBorrelliofBorrelli
Wa1sh
LimitedofLevel17,
Towel'I,AdmiraltyCentre,18HarcourtRoad,HongKongbeappointedasJointOfficialLiquidators(the"JOLs")ofChinaMedical
Technologies,
Inc,(the"Company").
 
companiesorotherentitiesinwhichtheCompany.hasaninterest(eacha"Subsidiary"andcollectively,the"Subsidiaries")andotherassetsoftheCompany(collectively
II
Assets"),including,butwithoutprejudicetothegeneralityoftheforegoingpowers,todemandandreceivealldebtsdueor
which
may[allduetotheCompanyortoanySubsidiary,butnottodistribute
or
partwiththemsave
fortheexerciseofthepowershereunder
oruntilfurtherorder.
(3)TheJOLsnotberequiredtogivesecurityfortheir
appointment.(4)TheJOLsbeauthorisedjointlyandseverallytoexercise,withoutfurthersanctionorinterventionoftheCourt,the
followingpowers,
including,butnotlimitedto:
(1)Toenteruponortakepossessionoftb(~
property
of
theCompany,includingwithoutlimitation,anypremisesof
theCompany,
or
any
site
officewheretheJOtshavereasontobelievethatthereareassets,property,orbooksandrecordsoftheCompany,and,
if
necessary
by
force,to
change
locksandopen
safes
andother
strongboxes.
(2)Toascertain,takepossessionof,collect,givevalidreceiptsfor,andprotectthemoneYibooks,records,
documents,properties,thingsin
action,sharesheldinitssubsidiariesorsuch[oint-ventures,associated
overseas.
(3)Toascertainandconduct
lnvestlgatlonsinto
theaffairsof
the
Comp'U1Y!
includingwithoutprejudicetothe
generality
ofIheforegoing,thepowerLoinspect,review;secure,takepossessionofandcopyall.books,recordsanddocumentsoftheCompanyandItsaccountants,auditorsandotheradvisorsoragents,oranyotherpersonwhetherinCaymanIslandsor
(4)Totakecontrolofandexerciseall
rlghts
whichtheCompany
may
haveinrelationtoanySubsidiary(inaccordance
with
theprovisionsof
any
 
relevantconstitutionalorrelateddocumentationofsuchentities),orsuch
sharesof
such
Subsidiaryas
are
owned(directlyorindirectly)
by
theCompany/usmay
benecessary
toobtainthe
control
01'
management
ofanysuch
entitiesincluding.without
prejudice'tothegeneralityoftheforegoing,thepowertoappoint
01'
removealloranydirectorsandotherofficersandagents
of
any
suchentitiesandtotakeallstepsas
tile
JOLsshallthink
fit
toprotecttheinterestsofthe
Companythereinand
for
the
purposeof
protectingtheAssets
andmru1<Ih>i.ng
the
affairs
of
the
Company;
(5)TopreservetheAssets,and,so
fat
only
as
may
beneress.i'nyforthebeneficialwinding..upofthe
Company/
to
canyon
thebusinessoftheCompanyforthebenefitofallthecreditorsoftheCompany.
(6)Toclose
orCCa51."
to
operate
all
or
nny
partoftheCompany'sbusinessoperations,asthe[Ol.sshallthink
fit.(7)Toemploy
OJ
dismiss
{my
employeeoftheCompany,astheJOLsshallthink
fit.
(8)ToappointorremoveanydirectororlegalrcprcecntntivesoftheCompany,astheJOLsshallthinkfit.
(9)
Todischargerent,salariesof
any
employeesoftheCompanyandothercurrent
CXP('llSCS
oftheCompany,asU1eJOLsshallthink
fit,
(10)ToraiseorborrowmoneyandgrantsecuritieathereofovertileAssetsandthemoney,books,records,docurnentsyproperties,thingsinaction,andotherassetsoftheSubsidiaries(collectively"SubsidiaryAssets").
('11)To
terminate,complete,orperfectanycontractsortransactionsrelatingto
thebusinessoftheCompany,
lncludlng,
withoutprejudicetothegeneralityofthis
power,tonovateorassign
any
such
contracts
or

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