Insolvency Act CAP 53▤
Liquidator's functions: voluntary liquidation
(1) This section has effect if a company is in voluntary liquidation, but subject to section 463 (liquidator's functions, creditor…
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727 results · Insolvency Act CAP 53
Insolvency Act CAP 53▤
Offence to make corrupt inducement affecting appointment of liquidator
A person who gives, or agrees or offers to give, to any member or creditor of a company any valuable consideration with a view to…
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Insolvency Act CAP 53▤
Style and title of liquidators
(1) The liquidator of a company is in all documents and communications relating to the liquidation of the company to be referred t…
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Insolvency Act CAP 53▤
Power of the Court to delegate its powers to liquidator
(1) The insolvency regulations may enable or require all or any of the functions imposed or powers conferred on the Court with res…
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Insolvency Act CAP 53▤
Powers of the Court to be cumulative
Powers conferred on the Court by this Part are in addition to any existing powers to bring legal proceedings against a contributor…
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Insolvency Act CAP 53▤
Power to arrest absconding contributory
(1) If, at any time either before or after making a liquidation order, the Court is satisfied on reasonable grounds that a contrib…
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Insolvency Act CAP 53▤
Payment of expenses of liquidation
(1) If the assets of a company are insufficient to satisfy its liabilities, the Court may— (a) make an order for the expenses incu…
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Insolvency Act CAP 53▤
Power of the Court to make orders enabling creditors and contributories to inspect company's records
(1) At any time after making a liquidation order, the Court may make such order for inspection of the company's records by credito…
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Insolvency Act CAP 53▤
Court to adjust rights of contributories
The Court shall adjust the rights of the contributories among themselves and distribute any surplus among the persons entitled to…
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Insolvency Act CAP 53▤
Power of the Court to fix deadlines for proving claims
The Court may fix deadlines by which creditors are required to prove their debts or claims or are to be excluded from the benefit…
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Insolvency Act CAP 53▤
Order made by the Court against contributory to be conclusive evidence that money ordered to be paid is due
(1) An order made by the Court on a contributory is conclusive evidence that any money appearing to be due or ordered to be paid b…
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Insolvency Act CAP 53▤
Power of the Court to order money due to company to be paid into Central Bank
(1) The Court may order any contributory, purchaser or other person from whom money is due to the company to pay the amount due in…
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Insolvency Act CAP 53▤
Power of the Court to make calls from contributories
(1) At any time after making a liquidation order, and either before or after the Court has ascertained the sufficiency of the comp…
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Insolvency Act CAP 53▤
Recovery of debts due from contributory to company
(1) At any time after making a liquidation order, the Court may make an order in respect of any contributory who is for the time b…
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Insolvency Act CAP 53▤
Settlement of list of contributories and application of assets
(1) As soon as practicable after making a liquidation order, the Court shall— (a) settle a list of contributories, with power to r…
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Insolvency Act CAP 53▤
Power of the Court to stay liquidation
(1) On the application of the liquidator, the Official Receiver or any creditor or contributory, and on proof to the satisfaction…
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Insolvency Act CAP 53▤
Duty of liquidator to convene final general meeting of company's creditors
(1) If, in the case of a company that is being liquidated by the Court, the liquidator (not being the Official Receiver) is satisf…
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Insolvency Act CAP 53▤
Company's property to vest in liquidator
(1) When a company is being liquidated by the Court, the Court may, on the application of the liquidator, by order direct all or a…
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Insolvency Act CAP 53▤
Liquidator to assume control of company's property when liquidation order made
When— (a) a liquidation order has been made; or (b) a provisional liquidator has been appointed, in respect of a company, the liqu…
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Insolvency Act CAP 53▤
General functions of liquidator when company is liquidated by the Court
(1) The functions of the liquidator of a company that is being liquidated by the Court are— (a) to ensure that the assets of the c…
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Insolvency Act CAP 53▤
Creditors' meeting may appoint liquidation committee
(1) If, after a liquidation order has been made, separate meetings of creditors and contributories have been convened for the purp…
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Insolvency Act CAP 53▤
Appointment of liquidator by the Court following administration or voluntary arrangement
(1) If a liquidation order is made immediately on the appointment of an administrator ceasing to have effect, the Court may appoin…
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Insolvency Act CAP 53▤
Creditors' choice to prevail if meetings of creditors and contributors nominate different liquidators
(1) If a company is being liquidated by the Court and separate meetings of the company's creditors and the company's contributorie…
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Insolvency Act CAP 53▤
Power of Official Receiver to appoint liquidator in certain cases
(1) In the case of a liquidation ordered by the Court, the Official Receiver (being the liquidator) may, at any time, appoint a qu…
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