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                            "text": "The document is a final judgment in the matter of Rasia, an exempted company incorporated in the Cayman Islands. The key issue was whether Red Wolf Resources Ltd (the Petitioner) had standing to present a winding up petition on just and equitable grounds under section 92(e) of the Companies Act (2021 Revision)."
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                            "text": "The court found that the Petitioner did have standing, as it held approximately 78% of the non-voting participating shares issued by Rasia. The Petitioner's shares had been cancelled by the Company shortly before the application to strike out the petition was issued."
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                            "eId": "note_3",
                            "text": "The cancellation was purportedly done pursuant to a Transaction Agreement dated December 2018, which provided that if Terracom did not acquire Kirkham shares by January 2, 2019, the Petitioner's acquisition could be unwound. However, no original or copy of this agreement was produced during the hearing."
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                            "eId": "note_4",
                            "text": "The court found JB (the Company's principal director) to be untruthful regarding the existence and terms of the Transaction Agreement. The agreement appears to have been fabricated by JB in an attempt to appropriate the Petitioner's shareholding."
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