Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XX. Winding up

Collection:: Economics Books

WINDING UP 247 experience of a professional man is desirable in the interests of the company. Perhaps a fair statement is that in all cases where an ordinarily capable and reasonable individual would employ an agent, e.g. an auctioneer, or a broker, or a solicitor, the liquidator may do the same. And he may pay them reasonable remuneration for their services. It is in the case of sales of the company’s more important assets that professional services are most likely to be required; but the advice of a solicitor may often be properly sought in almost every phase of a winding up. When dealing with the company’s property and when employing agents to act for him, the liquidator should bear in mind the provisions of Rules 158 to 160 (see pp. 237 and 238 supra). In connection with the realisation of the company’s assets, the important powers conferred upon the liquidator by the combined effect of ss. 214 and 252 of the Act must be noticed. S. 214 empowers the Court to summon before it any officer of the company or person known or suspected to have in his possession any of the property of the company, or supposed to be indebted to the company, or any person whom the Court deems capable of giving information concerning the trade, dealings, affairs, or property of the company.” And any person so summoned may be required to produce books, &c. In a proper case, therefore, if the liquidator suspects that any of the company’s property is being kept back, whether by the company’s officials or other persons, or if he has reason to suppose that there has been fraud in the pro- motion of the company, and that certain persons have received moneys which really belong to the company, he will make application to the Court, under s. 252, for an order for the examination (called private examination, in contra- distinction to the public examination in winding up by the Court) of any one who will voluntarily give, or from whom can be extracted, information as to the existence of assets, or information on which to ground misfeasance proceedings. With reference to misfeasance proceedings, these are pro- vided for by s. 276, their object being to compel any delinquent promoter or officer of a company to make restitution of any money or property of the company improperly applied or retained, or to make good any default. If misfeasance pro- ceedings require to be taken, the liquidator will invariably employ a solicitor, as indeed he will generally properly do in case of any application under s. 252. With reference to such applications, it must not be forgotten that, although in the majority of instances they are made by the liquidator, yet any contributory or any creditor may similarly apply. Private Examina- lions.

Access restriction

Copyright

fullscreen: Secretarial practice

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation