Avoidance of post winding transfers: post commencement share transfers and dispositions are void absent liquidator sanction or Tribunal order. In a voluntary winding up, transfers of shares or alterations in membership made after commencement are void unless made to or sanctioned by the liquidator. In a Tribunal winding up, dispositions of company property, transfers of shares, or alterations in membership made after commencement are void unless the Tribunal orders otherwise.