Limited cross-examination permitted in winding-up petition amid dispute over nature of company funding

The High Court granted an order directing the cross-examination of a company director on his affidavits in the context of a petition to wind up a property company, where the underlying dispute was whether monies transferred were provided as a loan or in return for shares. Both parties challenged the credibility of the other's evidence, and the lack of documentation or clear agreements complicated the issue. The court decided that, given the material challenges to credibility and the risk that the absence of cross-examination could lead to the petition’s dismissal, cross-examination was necessary, but strictly limited to key paragraphs concerning whether the monies were a loan repayable on demand or an investment in shares. The court emphasised that such directions for cross-examination in winding-up petitions remain exceptional, and are not intended to convert the process into a plenary dispute.