Quick Summary
Liquidator manages the winding-up process including asset realization and debt payment.
Liquidator takes control of the company, collects assets, sells them, pays creditors in order of priority, and distributes surplus to shareholders. In compulsory winding up, Official Liquidator handles the process.
Key Points
- Manages winding up
- Collects and sells assets
- Pays creditors
- Distributes surplus
- Official Liquidator for compulsory