Void transfers during winding up: post-commencement share transfers and member-status changes are ineffective unless sanctioned. Post-commencement transfers of shares and alterations in member status are void unless authorised: in voluntary winding up they must be to or sanctioned by the Company Liquidator; in Tribunal-ordered winding up any disposition of property, including actionable claims, and any share transfer or member-status change is void unless the Tribunal otherwise 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.
Void transfers during winding up: post-commencement share transfers and member-status changes are ineffective unless sanctioned.
Post-commencement transfers of shares and alterations in member status are void unless authorised: in voluntary winding up they must be to or sanctioned by the Company Liquidator; in Tribunal-ordered winding up any disposition of property, including actionable claims, and any share transfer or member-status change is void unless the Tribunal otherwise orders.
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