Powers of liquidator: statutory authority to manage winding up including asset sale, litigation, and creditor engagement under tribunal control. The liquidator has statutory authority, subject to Tribunal control, to institute or defend proceedings, carry on the business for beneficial winding up, sell company assets (including sale as a going concern), raise funds on asset security, and perform all acts necessary for winding up and asset distribution; additionally the liquidator may execute documents in the company's name, prove claims in contributories' insolvency, handle negotiable instruments, appoint agents, and must follow prescribed custody, valuation, bidding, accounting and reporting procedures.