Commentary

63 Winding up following failure of the arrangement

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

63 Winding up following failure of the arrangement

| Commentary

63 Winding up following failure of the arrangement

In the event of failure of the arrangement, it is probable that either pursuant to an express term of the arrangement or otherwise, the supervisor or some other person will present a winding-up petition and the company will go into liquidation. The authorities are not wholly consistent with each other on the consequences of this when the supervisor is holding funds which he has collected for the benefit of the arrangement. Typically, this arises where funds have been collected for a time from continued trading of the business of the company but

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