How is a company (financial institution) put into liquidation?

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.


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