Misapplication and misfeasance of company assets: summons seeks declaration, inquiry, contribution and interest relief. Summons under section 543(1) empowers the [Official] Liquidator or a creditor/contributory to seek a declaration that specified persons misapplied or were ... Summary
Misapplication and misfeasance of company assets: summons seeks declaration, inquiry, contribution and interest relief.
Summons under section 543(1) empowers the [Official] Liquidator or a creditor/contributory to seek a declaration that specified persons misapplied or were guilty of misfeasance in relation to company property, to order inquiries and accounts to ascertain sums due, to require respondents to contribute those sums (with interest) to company assets, and to award costs and other appropriate relief.
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