His Powers. 
240 
SECRETARIAL PRACTICE 
As regards the powers of ‘the liquidator in voluntary 
winding up, it will be sufficient to enumerate them. They 
are, in general, so inextricably involved with his duties that 
comment on them may be reserved until his duties are more 
fully dealt with. By s. 248 the liquidator has power, without 
any sanction, to exercise all the powers given to a liquidator 
in compulsory winding up, except (1) the power to pay any 
class of creditors in full and (2) the power to make such 
compromises and arrangements as are mentioned in 
paragraphs (¢) and (f) of s. 191 (1). He may accordingly 
under s. 189 take all the property of the company into his 
custody; under s. 191 appoint a solicitor and bring or defend 
any action in the name of the company; carry on the business 
of the company, so far as may be necessary for its beneficial 
winding up; sell the whole of its real and personal property; 
execute deeds and other documents, and use the company’s 
seal; prove as creditor in the bankruptcy of any contributory; 
draw bills and raise money upon the security of the assets 
of the company; take out letters of administration to any 
deceased contributory; appoint an agent to do any business 
which he is unable to do himself; do all such other things as 
may be necessary for winding up the affairs of the company 
and distributing its assets. Under s. 248 he may summon 
general meetings, settle the list of contributories, make 
calls, pay debts, and adjust the rights of the contributories 
amongst themselves; under s. 252 apply to the Court; and 
under s. 276 institute misfeasance proceedings. He may 
exercise the above-mentioned powers of paying any class of 
creditors in full and making compromises and arrangements, 
in the case of a members’ voluntary winding up with the 
sanction of an extraordinary resolution of the company, and, 
in the case of a creditors” voluntary winding up with the 
sanction of (a) the like resolution, and (b) either the Court or 
the committee of inspection. Under the corresponding 
section of the Act of 1go8 (s. 214) it was held that a compromise 
with a creditor under that section, unless set aside, is binding 
even though the sanction of an extraordinary resolution has 
not been .obtained [Cycle-makers Company v. Sims (1903), I 
K.B. 477], and semble, this decision will apply to a'compromise 
made without the sanction required by s. 248; but if a liquida- 
tor makes a compromise without the sanction required by the 
Act, he does so at his own risk and if the compromise is held 
to have been improper, will be liable to misfeasance pro- 
ceedings under s. 276 [Windsor Steam Coal Co. (1929), 1 Ch. 
151]. 
The above are the principal powers expressly conferred