| Commentary

225 In general

| Commentary

5: ADMINISTRATION OF THE WINDING UP

(a) Liquidator’s powers and duties

225 In general

Express powers are given to the liquidator in a voluntary winding up under the Insolvency Act 1986 Section 165 and Schedule 4 to the Act. In the case of a creditors’ voluntary winding up, these powers are circumscribed and may not be exercised except with the sanction of the court prior to the holding of the first meeting of creditors1. This does not apply in relation to the power of the liquidator to take possession of property of the company, to dispose of perishable goods and other goods

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial