Commentary

191 Effect of voluntary winding up on company

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

191 Effect of voluntary winding up on company

| Commentary

2: PROCEDURAL ASPECTS OF WINDING UP

191 Effect of voluntary winding up on company

The effect of a resolution for voluntary winding up1 is that the company must from the commencement of winding up cease to carry on its business except so far as may be required for its beneficial winding up2. The corporate state and corporate powers of the company, notwithstanding anything to the contrary in its articles, continue until it is dissolved3.

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