Court’s Powers

Part 11 – Winding Up

The Court can annul or stay a winding up (Section 669).

Whoever the applicant in that application was, he must give notice to the CRO that the Court made that order. This is new.

Where the Court makes an order annulling or staying a winding up, it can make whatever directions it sees fit in relation to the retention or disposal of the company’s seal, books and papers. This is new.

The Court can require directors to attend any meetings of creditors, contributories, members, or any meetings of the committee of inspection (Section 670). This is the case even in voluntary windings-up now.

The power to examine any officer of the company – previously found in Section 245 of the 1963 Act – is now set out here (Section 671).

The Court may make an order against a person who has been examined, for the delivery of property, or for a payment to the liquidator (Section 672). Where property is to be delivered, Section 673 applies. This section differs from the current law – Section 236 of 1963 – in that it incorporates requirements of Order 74 rule 71 of the Rules of the Superior Court and it expressly gives liquidators locus standi to apply.

The power to fix a time by which creditors must prove their claim in the liquidation has been given to the liquidator in the Act (Section 674). This is new, as previously that power rested with the Court (except in the case of voluntary windings up).

The arrest and seizure provision – set out in Section 675 – now applies to all windings up.