Commentary

128 Winding up by the court: successor to commonhold association

COMMONHOLD vol 8(1)
| Commentary

128 Winding up by the court: successor to commonhold association

| Commentary

3: WINDING UP BY THE COURT

128 Winding up by the court: successor to commonhold association

A petition may be presented for the winding up of a commonhold association by the court1. It is not necessary that the association is insolvent. A petition for winding up by the court may be presented following a special resolution by the company to wind up or if the court considers that it is just and equitable that the association should be wound up2.

The units do not vest in the commonhold association in the case of a winding up by the court.

It is considered that

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