Pursuant to section 144(1) of the Insolvency, Restructuring and Dissolution Act 2018, a Liquidator may, after authorisation by the Court or the committee of inspection amongst others: Carry on the business of the company for the winding up of the company; Make a compromise or arrangement with creditors; Compromise calls and liabilities; Bring or defend…
A statutory demand is a notice sent to a debtor which states the amount of the debt (as of the date of the demand) and the time in which the demand is to be complied with. The creditor may proceed to file a bankruptcy application if both of the following happen: The debtor does not…