The provisional liquidator announced that flying squads would maintain a check of all unfinished buildings to prevent illegal possession. |
He said the company would work with the liquidator on ways to discharge its debts to creditors. |
It also said that office of the official liquidator should be closed and the trustee should exercise all powers and functions. |
He alleges there is no reason for a liquidator to take control over his outstanding debts because he is capable of paying it. |
As noted above, an unregistered company charge is void as against both subsequent creditors and the liquidator and administrator. |
No-one was in any doubt that the best option for creditors was the appointment of an examiner, rather than a liquidator. |