Winding up commencement deemed to start from petition presentation when an order is made, otherwise petition date is irrelevant. Winding up is deemed to commence from the date of presentation of the petition only if and when a winding up order is made; if the petition is dismissed the presentation date has no relevance. Until the court issues a winding up order the company must continue to comply with obligations applicable to a company not in winding up, because actual winding up begins only after the order though the order operates retrospectively to the petition date.
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.
Winding up commencement deemed to start from petition presentation when an order is made, otherwise petition date is irrelevant.
Winding up is deemed to commence from the date of presentation of the petition only if and when a winding up order is made; if the petition is dismissed the presentation date has no relevance. Until the court issues a winding up order the company must continue to comply with obligations applicable to a company not in winding up, because actual winding up begins only after the order though the order operates retrospectively to the petition date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
