297. Liquidator Flashcards
1
Q
- Liquidator
A
General overview
[297.01] Usually in a winding up, the company will nominate an approved person who is a public accountant to be the liquidator. The creditors may accept the company’s nomination. However, s 297(1) provides that the creditors in a creditors’ winding up may nominate their own liquidator. In case of differences between the creditors and the company on the nomination, the liquidator nominated by the creditors shall prevail.
