24 March 2006

Law Now

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Company Liquidation

Exit to liquidation after administration expires, despite delay in registration
 
The courts are willing to be pragmatic when interpreting the law on moving a company from administration to voluntary winding-up.

The court ruled that a statutory notice to convert from administration to liquidation was still effective even though the term of office of the administrator who served it had ceased by the time the notice was registered. The notice had been sent to the registrar four days before the administrators term of office had expired and was received and date-stamped the following day. The court decided that despite the administrator no longer being in office, the companies in question had been wound up on the date of registration of the relevant notice and the liquidators were its former administrators.

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