Insolvency Act · s 140

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140.
Supplementary powers
(1) This section applies in the case of a company which is being wound up by the Court.
(2) The liquidator may summon general meetings of the creditors or contributories for the purpose of ascertaining their wishes; and it is his duty to summon meetings at such times as the creditors or contributories by

Insolvency resolution (either at the meeting appointing the liquidator or otherwise) may direct, or whenever requested in writing to do so by one-tenth, in value, of the creditors or contributories, as the case may be.
(3) The liquidator may apply to the Court (in the prescribed manner)
for directions in relation to any particular matter arising in the winding up.
(4) Subject to the provisions of this Act, the liquidator shall use his own discretion in the management of the assets and their distribution among the creditors.
(5) If any person is aggrieved by an act or decision of the liquidator, that person may apply to the Court; and the Court may confirm, reverse or modify the act or decision complained of, and make such order as the Court thinks just.
Enforcement of liquidator’s duty to make returns etc.

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s 140Supplementary powers

(1)

This section applies in the case of a company which is being wound up by the Court.

(2)

The liquidator may summon general meetings of the creditors or contributories for the purpose of ascertaining their wishes; and it is his duty to summon meetings at such times as the creditors or contributories by

(3)

The liquidator may apply to the Court (in the prescribed manner)

for directions in relation to any particular matter arising in the winding up.

(4)

Subject to the provisions of this Act, the liquidator shall use his own discretion in the management of the assets and their distribution among the creditors.

(5)

If any person is aggrieved by an act or decision of the liquidator, that person may apply to the Court; and the Court may confirm, reverse or modify the act or decision complained of, and make such order as the Court thinks just.

Enforcement of liquidator’s duty to make returns etc.