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Q.Which of the following cannot petition for the compulsory winding up of a company on the grounds of insolvency under s.122 Insolvency Act 1986?
A The board of directors
B The members of the company
C The company’s creditors
D The Secretary of State
Correct answer is B. Can you please explain?
Q. Section 122 Insolvency Act 1986 specifically provides a distinct ground for applying to have a company wound up on the ground that it is just and equitable to do so.
Which of the following parties may petition to have a company compulsorily wound up under that provision?
A Shareholders of the company
B Creditors of the company
C Debentureholders of the company
D The Secretary of State
Correct answer is A. Can you please explain?
Are you sending me this query because the questions are the same and yet the answers are different and apparently contradictory?
Are the 2 questions not different Mike – one is on the grounds of insolvency, the other is on the basis that it would be just & equitable to do so. Is this why the answers are different?
Thanks.That is exactly the reason that I asked my question – I’m thinking that Humai has read the two scenaria as identical … but now you have stepped in and told him / her that they’re not
I was rather hoping that Humai would take the time to respond to my question but you’ve beaten him / her to it
:-((
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