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suspended its activities for a considerable period in the hope of the return of better times and a disgruntled shareholder petitioned for its winding-up which was onposed by a considerable majority of the other shareholders, and in such circumstances the Court of Appeal held that the wishes of the majority, the safety of the assets and the ability of the company to resume business at any time were decisive reasons against allowing it to be wound up.
Here, although the appellants hold many more shares than do the respondents, the business of the branch cannot possibly be carried on except to the jeopardy of the assets, or else under the control of Japanese agents whose appointment as such was not only void but illegal under the law of China.
For these reasons and for the reasons given in the judgment of the Court below I am satisfied that the winding up order herein was rightly made and that this appeal should be dismissed with costs.
Sgd.
R.E. Lindsell,
President.
5th January 1940.
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