VI. Voluntary winding-up by the company itself
 
No matter whether the company is in financial difficulty or not, it may hold a general meeting of its shareholders to bring itself to an end by winding-up procedures. If a special resolution is passed for winding-up, the company may then apply to the Court for a winding-up order (via procedures similar to a creditor's petition).
Alternatively, a special resolution that the company be wound up voluntarily may be passed. In that case, no winding-up order from the Court is necessary.
- My company is in heavy debt and we will not be able to continue business or pay
off the debts. What should be done to bring the company to an end?
- What are the effects of voluntary winding-up?
|