Liquidation - Compulsory Liquidation

Compulsory Liquidation

The parties who are entitled by law to petition for the compulsory liquidation of a company vary from jurisdiction to jurisdiction, but generally, a petition may be lodged with the court for the compulsory liquidation of a company by:

  • the company itself
  • any creditor who establishes a prima facie case
  • contributories
  • the Secretary of State (or equivalent)
  • the Official Receiver

Read more about this topic:  Liquidation

Famous quotes containing the word compulsory:

    Lesbian existence comprises both the breaking of a taboo and the rejection of a compulsory way of life. It is also a direct or indirect attack on the male right of access to women.
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