Company Law - 104. page

Final Winding- up: When the affairs of a company have been completely wound up or when the Court is of the opinion that the liquidator cannot proceed with the winding-up of the […]

Official Liquidators report (Section 455): The Official Liquidator must, as soon as practicable after the receipt of the statement of affairs under Section 454 but, not later than six months from […]

Statement of Affairs: Where winding- up order has been made or the Official Liquidator has been appointed as provisional liquidator by the Court, a statement as regards the affairs of the company […]

Date of commencement of winding-up by Court (Section 441): Where, before the presentation of a petition for the winding-up of a company by the Court, a resolution has been passed by the […]

Powers of Court on hearing petition (Section 443): On hearing a winding up petition, the Court may (i) dismiss it, with or without costs; or (ii) adjourn the hearing conditionally or […]

Who may petition for winding-up? [Section 439]: The various persons who can make an application for the winding-up a company through Court are: (1) the company; (2) any creditor or creditors, […]

Alternative remedy to winding-up in cases of Oppression: Cases have arisen from time to time where minority shareholders have found it difficult to resist oppression by the majority. Section 397 provided that […]

Circumstances under Winding-Up By Court : Section 433 deals with the circumstances in which a company may be wound up by the Court. These are as follows: (a) If the company […]

Official Liquidator : a. Appointment of Official Liquidator: In order that the debts and obligations of a company in liquidation may be satisfied, and the surplus assets distributed amongst the members according […]

Contributories: In a winding up, the term ,‟contributory” means a past or present member. Strictly, it means every person liable to contribute to the assets of a company in the event of […]