261. Winding up application to be lis pendens

Question 1

261. Winding up application to be lis pendens

Answer 1

General overview
[261.01] Lis pendens is an old doctrine that prevents parties to a litigation to alienate property in dispute pending resolution of the suit. In other words, the petitioner, the company and any persons who hold property belonging to the company shall not alienate or sell, gift or transfer the property whilst the winding up petition is still pending final resolution by the court.