Commentary

127.2 Rights and duties during the winding-up process

COMMONHOLD vol 8(1)
| Commentary

127.2 Rights and duties during the winding-up process

| Commentary

127.2 Rights and duties during the winding-up process

Nevertheless, it is questionable whether it is desirable to terminate a commonhold by way of a voluntary winding up. The winding-up process itself is not invariably quick or straightforward. The former unit-holders, although they may have the right under the termination statement to remain in occupation of their units, will not have any rights or duties under the commonhold community statement, and that may make occupation less than satisfactory. Unit-holders may therefore be without both the value and the use of their unit during the winding-up process.

The liquidator has power to carry

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