196 Pending actions

Voluntary winding up does not automatically bring about a stay of proceedings against the company. The liquidator may, however, apply to the court(by virtue of the Insolvency Act 1986 Section 112) for an order restraining or staying proceedings as if the company were being wound up by the court1. A statutory power of distress has been held to be a proceeding for this purpose2. The granting of a stay is, in the discretion of the court, exercised upon the facts in each particular case3. Where a creditor has issued execution against the goods or land of a

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