275. Release of liquidators and dissolution of company Flashcards
1
Q
- Release of liquidators and dissolution of company
A
General overview
[275.01] Section 275(a) provides that when the liquidator has realised all the property of the company or so much thereof as can be realised without needlessly protracting the liquidation, and has distributed the final dividend to the creditors and adjusted the final rights of the contributories, and made a final return of the surplus, if any, to the contributories, he shall apply to court under subsections (b)(i) and (ii) for an order that he be released, and/or that the company be dissolved. Alternatively, he shall similarly apply for such order(s) if he resigns or is removed from his office.
