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Liquidator powers: creditor directions override advisory committee and Tribunal may review liquidator actions. The Company Liquidator administers assets and their distribution having regard to directions from creditors or contributories in general meeting or from an advisory committee, with creditor or contributory resolutions prevailing over advisory committee directions in case of conflict. The Liquidator may summon meetings of creditors or contributories to ascertain their wishes and must call meetings when so directed or when requested in writing by not less than one tenth in value. Aggrieved persons may apply to the Tribunal, which may confirm, reverse or modify the Liquidator's act or decision and make further just orders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Liquidator powers: creditor directions override advisory committee and Tribunal may review liquidator actions.</h1> The Company Liquidator administers assets and their distribution having regard to directions from creditors or contributories in general meeting or from an advisory committee, with creditor or contributory resolutions prevailing over advisory committee directions in case of conflict. The Liquidator may summon meetings of creditors or contributories to ascertain their wishes and must call meetings when so directed or when requested in writing by not less than one tenth in value. Aggrieved persons may apply to the Tribunal, which may confirm, reverse or modify the Liquidator's act or decision and make further just orders.
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