Isle of Man: locus standi to present a winding-up application

A copy of the judgment Wallis v Soberano (case number 21 of 2014), which was delivered in April this year in the High Court (Staff of Government, Appeal Division), has recently been published on the Isle of Man courts website. The court considered, amongst other things, issues of locus standi (legal standing) in respect of the winding-up of companies and limited partnerships. The judgment is noteworthy because the court appears to have recognised the existence of a residual discretion to permit an individual to proceed with a winding-up application in exceptional circumstances where that individual falls outside of the statutory categories of those entitled to make such an application.