8. What should the directors of AZ Company do after the making of a winding-up order?

8. What should the directors of AZ Company do after the making of a winding-up order?

On the appointment of a provisional liquidator or the making of the winding-up order, the powers of the directors of AZ Company will cease.

The directors are legally required to:-

1. deliver to the provisional liquidator or liquidator the company’s assets, accounts’ books and records, and seal;
2. attend the office of the provisional liquidator or liquidator for interviews to provide information about the company’s assets and dealings;
3. submit a sworn statement of affairs of the company (similar to a balance sheet) within 28 days after the appointment of a provisional liquidator or the making of the winding-up order;
4. attend meetings of creditors and contributories when notified to do so by the provisional liquidators or liquidators;
5. continue to co-operate with the provisional liquidator or liquidator until the liquidation is concluded; and
6. notify the provisional liquidator or liquidator of any change in address.