THE FIRST GROUP OF PARTS

PART 4COMPANIES WINDING UP

CHAPTER 12THE LIQUIDATION COMMITTEE

Preliminary4.151

(NO CVL APPLICATION)

For the purposes of this Chapter—

a

an “insolvent winding upis where the company is being wound up on grounds which include inability to pay its debts, and

b

a “solvent winding upis where the company is being wound up on grounds which do not include that one.