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LWLW Creditors' Voluntary Liquidation

RRobbie5y ago
BPP Revision Kit Q1. Which of the following parties applies for a company to be liquidated in a creditors' voluntary liquidation? a) The creditors b) The members c) The directors Answer b) The members Q2. Which of the following parties instigates a creditors' voluntary liquidation? a) The directors b) The members c) The creditors d) The official receiver Answer a) The directors The questions seem the same to me, but have different answers! Am I missing something, a key word perhaps? -Robbie.
BBarb5y ago#1
The directors start the ball rolling (instigate) but it's the members that decide to go for goal
VBVijay Bhatti5y ago#2
Well done Barbjohn- this is the correct analysis. Feel free to check with me by posting on the "Ask your Law tutor" link https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-lw-exams/ Kind regards, Vijay
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