Insolvency Act CAP 53▤
Interest on debts to be paid if surplus permits
(1) In a company liquidation, interest is payable in accordance with this section on any debt proved in the liquidation, including…
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727 results · Insolvency Act CAP 53
Insolvency Act CAP 53▤
Company in liquidation required to state that it is in liquidation in all invoices, letters and other communications
(1) A company that is in liquidation shall ensure that the following documents state that the company is in liquidation: (a) every…
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Insolvency Act CAP 53▤
Power of liquidator to transfer assets of company to its employees
(1) On the liquidation of a company (whether by the Court or voluntarily), the liquidator may, in accordance with this section, ma…
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Insolvency Act CAP 53▤
Power of the Court to rescind contracts entered into by company in liquidation
(1) A person who is, as against the liquidator, entitled to the benefit or subject to the burden of a contract made with the compa…
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Insolvency Act CAP 53▤
Duties of judicial enforcement officers charged with execution of writs and other processes involving companies in liquidation
(1) This section applies if— (a) a company's goods are taken in execution; and (b) before their sale or the completion of the exec…
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Insolvency Act CAP 53▤
Creditor not entitled to retain benefit of execution or attachment against liquidator unless creditor completes execution or attachment before commencement of liquidation
(1) If— (a) a creditor— (i) has issued execution against the goods or land of a company; or (ii) has attached any debt due to it;…
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Insolvency Act CAP 53▤
Powers of the Court in respect of leaseholds held by company in liquidation
(1) The Court may not make an order under section 479 vesting a leasehold interest in a person claiming under the company as under…
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Insolvency Act CAP 53▤
General powers of the Court in respect of disclaimed property
(1) This section and section 480 apply to property that the liquidator has disclaimed in accordance with section 476. (2) An appli…
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Insolvency Act CAP 53▤
Effect of disclaimer in relation to land subject to rentcharge
(1) If, as a result of the disclaimer under section 476 of land subject to a rentcharge, the land vests by operation of law in a p…
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Insolvency Act CAP 53▤
Special provisions relating to disclaimer of leaseholds
(1) The disclaimer under section 476 of any property comprising a leasehold interest does not take effect unless a copy of the dis…
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Insolvency Act CAP 53▤
Power of liquidator to disclaim onerous property
(1) The liquidator may, by the giving such notice as is prescribed by the insolvency regulations, disclaim any onerous property an…
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Insolvency Act CAP 53▤
Power of the Court to appoint special manager of company's business or property when company is in liquidation or provisional liquidator appointed
(1) If a company is in liquidation or a provisional liquidator is appointed in respect of the company, the Court may, on an applic…
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Insolvency Act CAP 53▤
Share of assets to be made available for unsecured creditors where floating charge relates to company's property
(1) This section applies to a company in respect of which a floating charge relates to its property— (a) if the company is in liqu…
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Insolvency Act CAP 53▤
Expenses of liquidation to have priority over claims under floating charge
(1) The expenses of liquidating a company, so far as the assets of the company available for payment of general creditors are insu…
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Insolvency Act CAP 53▤
Preferential charge on property of company distrained within three months before making of liquidation order
(1) This section applies to a company that is being liquidated by the Court. (2) If a person (whether or not a landlord or person…
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Insolvency Act CAP 53▤
Preferential debts (general provision)
(1) The liquidator of a company that is in liquidation shall distribute the assets of the company available for the payment of cre…
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Insolvency Act CAP 53▤
Release of liquidator in the case of company liquidated by the Court
(1) This section applies with respect to the release of the liquidator of a company that is in liquidation by the Court, or of a p…
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Insolvency Act CAP 53▤
Release of liquidator in the case of company liquidated voluntarily
(1) This section applies with respect to the release of the liquidator of a company that is in voluntary liquidation. (2) A person…
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Insolvency Act CAP 53▤
Liquidator may be removed only by the Court or by general meeting of creditors in the case of company being liquidated by the Court
(1) This section applies with respect to the removal from office and vacation of office of— (a) the liquidator of a company that b…
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Insolvency Act CAP 53▤
Circumstances in which liquidator may be removed from office in the case of a voluntary liquidation
(1) This section applies to the removal from office and vacation of office of the liquidator of a company that is in voluntary liq…
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Insolvency Act CAP 53▤
Enforcement of liquidator's duties to lodge, deliver and make returns, accounts and other documents
(1) If a liquidator has— (a) in lodging, delivering or making a return, account or other document— (i) failed to prepare, make or…
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Insolvency Act CAP 53▤
Liquidator's functions: supplementary powers
(1) If a company is being liquidated by the Court, the liquidator may convene general meetings of the creditors or contributories…
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Insolvency Act CAP 53▤
Liquidator's functions: liquidation by the Court
(1) If a company is being liquidated by the Court, the liquidator may— (a) with the approval of the Court or the liquidation commi…
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Insolvency Act CAP 53▤
Liquidator's functions: creditors' voluntary liquidation
(1) If, in the case of a creditors' voluntary liquidation, a liquidator has been nominated by the company, the powers conferred on…
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