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401.   Appointment, style, etc. of liquidators

Revised Laws of Saint Lucia (2022)

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401.   Appointment, style, etc. of liquidators

Subject to section 400(2) the following provisions with respect to liquidators have effect on a winding-up order being made, namely—

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    (a)     the Official Receiver shall by virtue of his or her office become the provisional liquidator and shall continue to act as such until he or she or another person becomes liquidator and is capable of acting as such;

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    (b)     the Official Receiver shall summon separate meetings of the creditors and contributories of the company for the purposes of determining whether or not an application is to be made to the Court for appointing a liquidator in the place of the Official Receiver;

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    (c)     the court may make any appointment and order required to give effect to any such determination, and, if there is a difference between the determinations of the meetings of the creditors and contributories in respect of any such matter, the court shall decide the difference and make such order thereon as the court may think fit;

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    (d)     in a case where a liquidator is not appointed by the court, the Official Receiver shall be the liquidator of the company;

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    (e)     the Official Receiver shall by virtue of his or her office be the liquidator during any vacancy; and

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    (f)     a liquidator shall be described, where a person other than the Official Receiver is liquidator, by the style of “the liquidator” and, where the Official Receiver is liquidator, by the style of “the Official Receiver and liquidator”, of the particular company in respect of which he or she is appointed, and not by his or her individual name.

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