Avoidance transactions and fraudulent trading must be addressed in the final liquidation report and recovery distribution plan. The liquidator, with the approval of the committee, must include in the final report application the manner in which avoidance transaction proceedings under Chapter III, or fraudulent or wrongful trading proceedings under Chapter VI of Part II of the Code, will continue after dissolution or closure of liquidation. The application must also state how any proceeds from such proceedings will be distributed.
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.
Avoidance transactions and fraudulent trading must be addressed in the final liquidation report and recovery distribution plan.
The liquidator, with the approval of the committee, must include in the final report application the manner in which avoidance transaction proceedings under Chapter III, or fraudulent or wrongful trading proceedings under Chapter VI of Part II of the Code, will continue after dissolution or closure of liquidation. The application must also state how any proceeds from such proceedings will be distributed.
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