THE FIRST GROUP OF PARTS

PART 4 COMPANIES WINDING UP

CHAPTER 12 THE LIQUIDATION COMMITTEE

4.151 Preliminary
(NO CVL APPLICATION)
For the purposes of this Chapter—
(a) an “insolvent winding up” is where the company is being wound up on grounds which include inability to pay its debts, and
(b) a “solvent winding up” is where the company is being wound up on grounds which do not include that one.