PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP (From Rule 179 to Rule 182)
Appointment of provisional liquidator after a winding up petition requires notice, power restrictions, asset surrender and conflict disclosure. Rule 14 authorises the Tribunal, upon affidavit proof of sufficient ground after admission of a winding up petition, to appoint a provisional liquidator pending final orders, with Form WIN 7 notice to the company unless dispensed, and an appointment order in Form WIN 8 specifying any restrictions on powers and requiring surrender of company property, books, papers, cash and benefits to the provisional liquidator; Registrar must notify the appointee in Form WIN 9 and file documents, and the liquidator must file a Form WIN 10 declaration of conflict or lack of independence, with appointments drawn from registered insolvency professionals unless the official liquidator is chosen.
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.
Appointment of provisional liquidator after a winding up petition requires notice, power restrictions, asset surrender and conflict disclosure.
Rule 14 authorises the Tribunal, upon affidavit proof of sufficient ground after admission of a winding up petition, to appoint a provisional liquidator pending final orders, with Form WIN 7 notice to the company unless dispensed, and an appointment order in Form WIN 8 specifying any restrictions on powers and requiring surrender of company property, books, papers, cash and benefits to the provisional liquidator; Registrar must notify the appointee in Form WIN 9 and file documents, and the liquidator must file a Form WIN 10 declaration of conflict or lack of independence, with appointments drawn from registered insolvency professionals unless the official liquidator is chosen.
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