ABSTRACT
There are varying degrees of scrutiny into the conduct of those involved in a company which has become insolvent depending upon the insolvency regime to which it has become subject.
On a compulsory winding up, the Official Receiver has a duty5 to investigate the causes of failure and the promotion, formation, business, dealings and affairs of the company and to make such report to the court as he thinks fit. Where the liquidator is someone other than the Official Receiver, the liquidator has an obligation to furnish the Official Receiver with such information, assistance and documents as the Official Receiver reasonably requires for the purposes of carrying out the investigation. There is6 an obligation on the liquidator to notify the Official Receiver where it appears that a criminal offence has been committed by any past or present officer or member of the company. The court may, on the application of a person interested in the winding up or of its own motion, direct the liquidator to refer the matter to the Secretary of State.7
