Liberty to apply allows company, creditor, member or liquidator to seek court directions after sanctioning of compromise. Liberty to apply permits a company, any creditor or member, or the liquidator in winding-up to apply to the Court to determine questions about the working of a sanctioned compromise or arrangement; the application is first posted for directions on notices and advertisements, and the Court may give directions, pass orders, or modify the compromise or arrangement as necessary for its proper working.