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“Liquidation is deemed to start on the date of the issuing of the order.”
– Could you explain how the above statement is not an automatic consequence of a compulsory winding up?
Thanks.
Where creditors ask the Court to grant a winding-up order on the grounds that the entity is unable to pay its debts and, for whatever reason, the Court defers their decision (for example to allow further evidence to be provided by the entity), on the subsequent adjourned hearing the Court may grant a winding-up order
That liquidation commences with effect from the date the ORIGINAL petition was presented
OK?
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