Company liquidator appointment must follow government panel selection and creditor approval, with ongoing conflict of interest disclosure obligations.

In a voluntary winding up the company must appoint a Company Liquidator from the Central Government panel and recommend the liquidator's fee; where creditors have resolved to wind up, the appointment requires approval by a majority in value of creditors or else creditors appoint another liquidator. Creditors must resolve on the fee when approving or appointing a liquidator. The appointed liquidator must file a prescribed declaration within seven days disclosing any conflict of interest or lack of independence, and that disclosure duty continues throughout the appointment.

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