241. Winding up of company Flashcards
1
Q
- Winding up of company
A
General overview
[241.01] This section provides that the Minister may apply to court to wind up the declared company after considering the report submitted by the investigators. The provisions of the Act on winding up companies shall be adapted to apply to the declared company. A winding up application by the Minister under the equivalent s 35 of the Companies Act 1967 (UK) would not require the provisional liquidator appointed to give an undertaking in damages to the company: Re Highfield Commodities Ltd [No 00586 of 1984] [1985] 1 WLR 149, Ch D ; applied F Hoffmann-La Roche & Co AG v Secretary of State for Trade and Industry [1975] AC 295, HL .
