Home Services Career Contact Us Associates Useful Links
Insolvency & Company Liquidation

We are registered Liquidators and Receivers and may be appointed accordingly by shareholders or lenders as such. Prior to such appointment, we provide advice on the feasibility of continuing with businesses in difficulty, corporate reorganization including negotiation for sale of businesses.

We have experience in handling all modes of liquidation namely :-

Compulsory Winding Up

Under Section 253 of the Companies Act, Cap.50, the company itself, creditors, contributories, liquidator, judicial manager or the Minister may present a petition to the High Court for the winding up of the company. The grounds to support a petition for compulsory winding up are found in Section 254. Compulsory winding up commences at the date of the presentation of petition{Section 255(2) }

Creditors’ Voluntary  Liquidation

If the company is unable to meet its liabilities, the company may convene a meeting of its creditors for the purpose set out in Section 296, 297 & 298 of the Companies Act. If a winding up Special Resolution is passed in the favour  of the Creditors Voluntary Winding Up, the company will shall nominate a liquidator.

Members  Voluntary Liquidation

The members  of the company may convene an EGM and pass Special/ Ordinary Resolution that the company should be wound up pursuant to Section 290 (1) (b) and appointment  of liquidator to conduct the winding up and fixed his remuneration. This mode of winding up  is applicable where the company is able  to pay its debts in full within 12 months after passing of  resolution for the winding up. Winding up shall commence at the time of passing of the resolution.

For further enquiry contact  K.C. Chan @63247710
© Copyright K.C. Chan & Co PAC. All Rights Reserved.
Please read Disclaimer before using the information found in this website.

Email Us