Principle

COMPANY LAW — Liquidation — Powers of Provisional Liquidator — Whether Restricted by Instrument of Appointment

Area of law
COMPANY LAW
Court
Supreme Court

A provisional liquidator's powers are broad and preservative. The instrument of appointment must expressly restrict powers to limit them. The primary purpose is asset preservation pending winding up. The principle applies to all provisional liquidators. The liquidator may take custody of property appearing to belong…

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