Order issued by Grand Court (January 26, 2012) and published in Cayman Islands Gazette on February 13, 2012: BTU Power Company has been placed in liquidation.

The seemingly endless money spigot has run out for Wael
BTU POWER COMPANY
60% owner of Carthage Power Company 
10% owner of Taweelah Asia Power Company
(In Liquidation)
The Companies Law
Notice of Appointment of Official Liquidator 
     TAKE NOTICE that by order of the Grand Court made on 26 January 2012 BTU Power Company, registration number 122018 whose registered office is situated at PO Box 309, Ugland House, South Church Street, Grand Cayman KY1-1104, Cayman Islands, was ordered to be wound up in accordance with the Companies Law.
     AND FURTHER TAKE NOTICE that Michael Penner and Stuart Sybersma of Deloitte & Touche at PO Box 1787, Grand Cayman KY1- 1109, Cayman Islands have been appointed as Official Liquidators of the Company.
Dated: 30 January 2012.
MICHAEL PENNER
Voluntary Liquidator
Sequence
Hearing was held on Thursday January 26, 2012 regarding petition by Qatar Investment Authority to Wind-Up BTU Power Company.
  • Qatar Investment Authority was represented by Walkers
  • Dubai Islamic Bank was represented by Harneys
  • BTU Power Company was represented by Maples & Calder
Judge issued the liquidation Order the very same day. Guess the QIA petition was irrefutable!

Hearing on 26 Jan 2012


Order issued on 26 Jan 2012

Image extracted from Cayman Islands Gazette dated February 13, 2012.