Liquidator powers in voluntary winding up govern asset realization, contributory lists, calls, and distribution procedures. The liquidator in a voluntary winding up may, with appropriate sanction in members' or creditors' voluntary proceedings, exercise certain tribunal-level powers, and without such sanction exercise other statutory powers; may settle the list of contributories and make calls subject to tribunal control and creditor or contributory applications; must pay company debts and adjust contributories' rights; and where several liquidators are appointed, powers are exercisable by those designated or by at least two in default of designation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Liquidator powers in voluntary winding up govern asset realization, contributory lists, calls, and distribution procedures.
The liquidator in a voluntary winding up may, with appropriate sanction in members' or creditors' voluntary proceedings, exercise certain tribunal-level powers, and without such sanction exercise other statutory powers; may settle the list of contributories and make calls subject to tribunal control and creditor or contributory applications; must pay company debts and adjust contributories' rights; and where several liquidators are appointed, powers are exercisable by those designated or by at least two in default of designation.
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