GLOSSARY

Public interest winding up definition

What does Public interest winding up mean?

The process by which a company is wound up in the public interest rather than because it is insolvent.

A petition for a company to be wound up in the public interest may be presented by the Secretary of State if he considers that it would be expedient in the public interest for the company to be wound up. The applicable test for the court is whether it would be just and equitable to wind up the company. Such an order results in a compulsory winding up and is usually made on the basis that the company is being run in an unsuitable or objectionable manner.


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Public interest winding up is referenced 2 in UK Parliament Acts

Public interest winding up is referenced 3 in Encyclopaedia of Forms and Precedents

Public interest winding up is referenced 1 in Halsbury's Laws of England

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