• Chapter 1 Chapter 1 — General

    • 172. Alternative modes of winding-up

      The winding-up of a Company may be either voluntary or by the Court.

    • 173. Concurrent proceedings

      (1) Subject to subsection (2), there may be a winding-up of a Company and a receiver appointed to the property of the Company at the same time.
      (2) When a Company is being wound up —
      (a) any agency of a receiver for the Company is terminated;
      (b) the liquidator's powers with respect to the property of the Company excludes any property to which a receiver has been appointed for the period of the receiver's appointment; and
      (c) the liquidator may exercise any of his powers under Part 3 (Winding-Up) notwithstanding the appointment of a receiver.