Skip to main content

3. I am a creditor of a company which has refused to repay a debt to me. I also have grounds to believe that the assets of the company are in jeopardy and are being dissipated. I know I can present a winding-up petition but it will take a few months before the company can be wound up. What can I do to protect my interest and to safeguard the company’s assets in the meantime?

You can apply to the Court for the appointment of a provisional liquidator after you have presented a winding-up petition. The provisional liquidators will take the necessary steps to preserve the assets of the Company.

 

A sum of $3,500 must be deposited to the Official Receiver’s Office for the appointment of a provisional liquidator (for the purpose of covering the fees and expenses to be incurred in relation to such application). Additional sums may be required to be deposited when necessary.

Last revision date: