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effect of voluntary winding upthe main difference in legal consequences between a compulsory and voluntary winding up area a voluntary winding up
differences members and creditors voluntary wind upmain differences between a members and a creditors voluntary winding up are thata in a creditors
creditors meeting - winding upthe creditors meeting is convened for the same day at a later time than the members meeting or it is held the following
creditors voluntary winding upif no declaration of solvency is made and delivered to the registrar the liquidation process is a creditors voluntary
members voluntary winding upin a members voluntary winding up the creditors play no part since the assumption is that their debts will be paid in
resolution to wind up voluntarily the type of resolution to be passed varies with the circumstances of the case as provided in s2711a if the
order for compulsory liquidationthe official receiver also calls separate meetings of creditors and of contributories within one month of the order
assets and liabilities of the companywithin 14 days of the making of the order for winding up a statement of affairs must be delivered to the
effects of an order for compulsory liquidationthe effects of the order are follows as area the official receiver an official of the high court whose
proceedings for compulsory liquidationwhen the petition is presented to the court a copy is delivered to the company in case it objects and it is
legal rights - winding upin substance these two people are really partners and by analogy with the law of partnership which permits dissolution if
deadlock in the managementthe company existed only to work a particular patent and as it could not do so it should be wound upbut if there are two or
winding up onthe just and equitable groundunlike the other five grounds this one is widely interpreted and it is no objection that the petition is
compulsory winding upat the hearing other creditors of the company may oppose the petition if so the court is likely to decide in favour of those
contingent and prospective liabilities of the companya creditor who petitions on grounds of the companys insolvency may rely on any of the following
winding-up a a company is dissolved ie ceases to exist when its name is removed from the register it is usually necessary before it can
ddisadvantages - mergers and winding upthe disadvantages of s280 are that cash may have to be provided to pay off creditors and dissenting members or
usual procedure - shares of the minorityhence the usual procedure isa first to dispose of possible objections by creditors by paying
voluntary liquidation - shares of the minoritya company in or about to go into members voluntary liquidation may by special resolution authorize the
reconstruction under s280the essential features of this type of reconstruction have been described at 821b it is subject to several disadvantages
use of shares of the minorityx y and z held 4500 4500 and 1000 one pound shares respectively of company b they were the only shareholders and
advantages - take-over bida non-accepting shareholder who applies to the court to set aside the proposed compulsory acquisition of his shares under
benefits of non-accepting shareholdersthe minority whose shares are acquired compulsory under s210 are entitled to all the benefits included in the
statutory safeguard - non-accepting shareholdersthe non-accepting shareholders have a further statutory safeguard company a is not obliged to
non-accepting shareholdersacceptance on the required scale must be obtained within a maximum of four months from the date of the offer the