C17 - Winding Up

Question 1

Voluntary liquidation

Members voluntary liquidation

Answer 1

Directors make statutory declaration of solvency

Members psd special resolution to commence liquidity

Special resolution sent to Gazette and ref of companies

Liquidator appointed

Question 2

Voluntary liquidation

Compulsory liquidation

Answer 2

When comp can’t pay debts:

Special resolution of members
Meeting creditors
Appointment of liquidate
Submit docs of liquidator

Ordered by court:
Plc not issued with trading cert, 1yr after registered
2 members
Debts over£750 can’t pay
Court decide on just& equitable grounds

Question 3

Striking off in offshore centre

Answer 3

No direct cost, no action from directors/members
Fail to pay annual fee to be struck off

Once struck off, assets BONA VACANTIA - crown owns

Question 4

Corporate redomicilation

Answer 4

Company moved domicile from one jurisdiction to another