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of <h1>Section 292: Liquidator powers guided by creditor directions, meetings, and stakeholder challenges during company winding up</h1> Section 292 governs how a Company Liquidator exercises and is controlled in the use of powers during winding up. The liquidator must, in administering assets and distributing them to creditors, follow directions issued by creditors or contributories in general meetings or by the advisory committee, with general meeting directions prevailing in case of conflict. The liquidator may convene meetings to ascertain stakeholders' wishes and must do so when directed by resolution or when requested in writing by at least one-tenth in value of creditors or contributories. Any aggrieved person may apply to the Tribunal, which can confirm, reverse, modify the liquidator's act or decision, and issue further appropriate orders.
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