Insolvency Act · 2022 Revised Edition · Chapter VI
116. Choice of liquidator at meetings of company’s creditors and contributories
Official textFrom Attorney General's Chambers, unchanged
This section applies where a company is being wound up by the
company
“company” means a company incorporated or registered under the Companies Act;
Court and separate meetings of the company’s creditors and contributories are summoned for the purpose of choosing a person to be liquidator of the company.
Court
“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
The creditors and the contributories at their respective meetings may nominate a person to be liquidator.
The liquidator shall be the person nominated by the creditors or, where no person has been so nominated, the person (if any) nominated by the contributories.
In the case of different persons being nominated, any creditor or contributory may, within 7 days after the date on which the nomination was made by the creditors, apply to the Court for an order —
appointing the person nominated as liquidator by the contributories to be a liquidator instead of, or jointly with, the person nominated by the creditors; or
appointing some other person to be liquidator instead of the person nominated by the creditors.
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
Court
Defined · s 3“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
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