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of <h1>Former Director Faces Fraud Accusations Under Section 542(1) in Insolvent Company Wind-Up; Liable for Debts and Costs</h1> Points of claim under section 542(1) of the Companies Law involve an application regarding a company ordered to be wound up by the court due to insolvency. The respondent, a former director of the company, is accused of participating in fraudulent business practices. The applicant, typically the Official Liquidator, seeks a declaration holding the respondent liable for the company's debts without limitation, demands payment of the sum deemed responsible, and requests associated costs and further relief. The claim outlines the company's incorporation details, financial deficiency, and the respondent's role and remuneration.
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