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The winding-up of a company under Irish law may be effected by one of the following: Page 3. 2. (i) court liquidation;. (ii) creditors' voluntary liquidation . Voluntary liquidation by Court. A company may be liquidated by Court in the following cases: the company has decided by special resolution for its. A creditor of a company can make an application to the Court under sP of the Corporations Act for orders winding up the company in insolvency under sA.

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This is an insolvency procedure that applies to companies (and partnerships) and is started by a court order - a winding-up order. A winding-up petition is. To start the court liquidation process, a creditor will serve a Statutory Demand on the company to pay a debt pursuant to section E of the Corporations Act. An official liquidation occurs when a creditor who is owed more than $2, applies to the court to have a liquidator (an independent and suitably qualified.

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A company may be wound up voluntarily or by an order of court (compulsory winding up). Compulsory winding up is a process in which a party applies for a. Compulsory Winding-up Petition. A limited company may be wound up by the Court in the circumstances set out in the Companies (Winding Up and Miscellaneous. Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation or receivership following bankruptcy, which may result in the court.