ABSTRACT
The official receiver may decide to call separate first meetings of the creditors and contributories to nominate a liquidator in place of the official receiver and to decide whether to establish a liquidation committee to oversee the liquidator’s conduct of the winding up. He must summon such meetings if requested to do so by one quarter in value of the creditors. If the official receiver decides to call first meetings, he must do so within 12 weeks of the order. If the creditors’ meeting and the contributories’ meeting each nominate different liquidators, the creditors’ nominee is appointed. However, a creditor or contributory may apply to the court for some other person to be appointed as liquidator.
