COURT APPOINTED LIQUIDATIONS
What is a Court Appointed Liquidation?
A Court Appointed Liquidation is when a Liquidator is appointed to a company by an Order made by the High Court.
Why would the High Court make an order to appoint a Liquidator over a company?
The High Court will make an Order to appoint a Liquidator over a company on foot of a petition to wind up the Company.
Who can petition the High Court to seek the appointment of a Liquidator?
The petition can be taken by a director, a creditor, a shareholder or the company itself.
Is a Court Appointed Liquidator responsible to the Court?
A Court Appointed Liquidator, either a "Provisional Liquidator" or an "Official Liquidator", is an officer of the Court.
Why would the High Court appoint a Provisional Liquidator?
The High Court may appoint a Provisional Liquidator to immediately safeguard the assets of the Company for the creditors or if there is a risk of the assets being dissipated.
How kavanaghfennell can help?
If you wish to discuss Court Appointed Liquidations or corporate restructuring generally, please contact Tom Kavanagh, Ken Fennell or David Van Dessel.
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