Stay or restraint of proceedings after a winding up petition can include actions against a company's contributories when sought by a creditor. The court may stay or restrain suits and other legal proceedings after presentation of a winding up petition and before a winding up order; if a creditor ... Summary
Stay or restraint of proceedings after a winding up petition can include actions against a company's contributories when sought by a creditor.
The court may stay or restrain suits and other legal proceedings after presentation of a winding up petition and before a winding up order; if a creditor applies for such relief in respect of a company registered under this Part, that power also extends to suits and proceedings against any contributory of the company.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.