Winding up of a company may be either:
- By the Company (voluntary)
- By the Court upon application by:
– The Creditors (involuntary/compulsory)
– By an application of the CBTT acting under its powers (involuntary/compulsory)
Where a company has been placed into compulsory liquidation, the Court may either appoint an Official Receiver, or a Liquidator, or both to wind up the company.