Το δικαίωμα πιστωτή να ζητήσει διάταγμα εκκαθάρισης εταιρείας λόγω αφερεγγυότητας, δίδεται από το Άρθρο 211 (ε) του Κεφ. 113, στο οποίο ορίζεται ότι εταιρεία μπορεί να εκκαθαριστεί αν είναι ανίκανη να εξοφλήσει τα χρέη της. Ορισμένα τεκμήρια αφερεγγυότητας, καθορίζονται στο Άρθρο 212 του Κεφ.113, μεταξύ των οποίων και η περίπτωση όπου η εταιρεία παραλείπει να πληρώσει το χρέος της, με την παρέλευση τριών εβδομάδων από την ιδιόχειρη αξίωση πληρωμής προς αυτή από τον πιστωτή (βλ. Άρθρο 212(α) του Κεφ.113).
As the first-instance Court very correctly ruled, no other purpose of the appellant in promoting the liquidation application in question is demonstrated, despite the registration of an appeal against the decision on the lawsuit and the intention of the appellant to register a request for the suspension of the decision in question. Nor does the position of adverse economic effects on the appellant demonstrate an ulterior motive on the part of the appellant. We would add that a liquidation decree, by its very nature, has a catalytic effect on a company since it essentially stops its economic activity. However, this fact does not in itself demonstrate abuse of the judicial process, without proof of an ulterior motive by the creditor, which constitutes a necessary element for proving abuse.
In its recent judgment the Court of Appeal considered it useful to clarify that all injunctions are remedies under the law of Equity, whether they are issued in perpetuity or as an interim measure and whether they are issued ex parte or in an inter partes proceeding. Therefore, in any proceeding seeking a Court Order, the Court examines the principles of the law of Equity. Referencing to the principle that "he who comes to equity, must come with clean hands" it concluded that this principle must be applied always where the party seeks a remedy under the law of equity and regardless of whether it is ex-parte or inter-partes. The focus of the principle is on the past, that is, the behavior of the party seeking the remedy toward the other party to date.