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Sir there is a question in BPP kit , which is as follows
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
Sir I am confused here. Can you please tell me the correct answer?
Why are you confused?
The members can pass a special resolution asking the Court to grant a compulsory liquidation order but cannot petition the Court for such an order on the grounds that the company is unable to pay its debts
Why are you confused?
So in your opinion correct answer is members i.e they cannot pass petition for compulsory winding up?
No, that’s not what I have said!
I have said that members cannot petition for a compulsory winding-up order ON THE GROUNDS OF THE COMPANY’S INSOLVENCY
Members CAN pass a special resolution to ask the Court to grant a compulsory winding-up order, but not on the grounds of the company’s insolvency
What does the printed solution say?
“Thankyou Sir” does NOT answer my question directed to you
Here it is again …
… “What does the printed solution say?”
I’m awaiting your response 🙂
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