ABSTRACT
The Official Receiver must decide within 12 weeks of the winding up order being made whether or not to summon meetings of the company’s creditors and of the company’s contributories for the purpose of choosing a person to be liquidator in his or her place.87 If he or she decides not to call such meetings, notice of that decision must be given to the court and to the creditors and contributories. Any notice to the creditors must explain that one-quarter in value of the creditors may require the Official Receiver to summon a meeting. Section 139 of the Insolvency Act 1986 provides that the liquidator will be the person nominated by the meeting of the creditors or, where no person has been so nominated, the person nominated by the contributories. In the case of different persons being nominated, any contributory or creditor may, within seven days after the date on which the nomination was made by the creditors, apply to the court for an order either appointing the person nominated as liquidator by the contributories to be liquidator instead of, or jointly with, the person nominated by the creditors or appointing some other person to be liquidator instead of the person nominated by the creditors.
