A liquidator’s remuneration is not encompassed by the word ‘expenses’. The term ‘expenses’ is not a term of art. It may include any expenses which the liquidator may be compelled to pay in respect of his acts in the course of a proper liquidation of the company’s assets.
The liquidator is the ‘person who can see what the position is’ and has the means to ascertain the company’s financial position at any time.
Citations:
[1934] 1 Ch 406, [1933] All ER 693
Cited by:
Cited – In re Nortel Companies and Others SC 24-Jul-2013
The court was asked as to the interrelationship of the statutory schemes relating to the protection of employees’ pensions and to corporate insolvency.
Held: Liabilities which arose from financial support directions or contribution notices . .
Lists of cited by and citing cases may be incomplete.
Insolvency, Company
Updated: 04 May 2022; Ref: scu.537945