Liquidation committee

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January 5, 2018 at 8:37 am #427307
humai
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A liquidation committee is involved in which of the following insolvency procedures?
A Members’ voluntary liquidation
B Creditors’ voluntary liquidation
C Compulsory liquidation
D Administration
Sir , liquidation committee is involved in both Creditors’ voluntary liquidation
and Compulsory liquidation na?
January 5, 2018 at 9:00 am #427315
MikeLittle
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From the internet:
“When a company is wound-up, whether via compulsory liquidation or a Creditors’ Voluntary Liquidation (CVL), a committee is sometimes formed to monitor the liquidator’s activities and look after the interests of creditors as a whole.”
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