"The liquidator’s primary duty is to all of the company’s creditors. The shareholders rank behind the
creditors and are unlikely to receive any dividend in an insolvent liquidation unless they also have a
claim as a creditor.
In a court liquidation, the liquidator is not required to report to the shareholders on the progress or
outcome of the liquidation.
The liquidator is not required to hold a meeting of shareholders during a creditors’ voluntary
liquidation. A joint meeting of the creditors and shareholders must be held at the conclusion of the
winding up........."
WDS Price at posting:
10.5¢ Sentiment: None Disclosure: Held
