Insolvency Act · 2022 Revised Edition · Chapter IV
81. Appointment of liquidator
Official textFrom Attorney General's Chambers, unchanged
The creditors and the company at their respective meetings mentioned in section 79 may nominate a person to be liquidator for the purpose of winding up the company’s affairs and distributing its assets.
company
“company” means a company incorporated or registered under the Companies Act;
The nomination under subsection (1) shall be approved by a majority of the creditors.
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 company and approved by the creditors.
In the case of different persons being nominated, any director, member or creditor of the company may, within 7 days after the date on which the nomination was made by the creditors, apply to the Court for an order —
appointing that the person nominated as liquidator by the company 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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