The status and responsibilities of the liquidator in company law

Abstract

The main aim of this thesis is that of examining and analysing the off ice of the liquidator under local and foreign legislations. In addition the thesis also effects an examination of the reforms proposed by the Companies Bill. Since, it was felt that the liquidator's functions could only be properly understood if one knew what a winding up procedure involved, Chapter one has been dedicated to winding up procedure. Chapter two then deals with the procedures required for the appointment of the liquidator, the qualifications necessary for a person to be appointed in this officer and the liquidator's remuneration. The liquidator's powers, functions and duties are of utmost importance and thus more than one third of the thesis has been dedicated to this issue. Chapter four infact contains a detailed examination of the provisions of the Commercial Partnerships Ordinance and of the Companies Bill, which has not as yet come into force. The liquidator's liability under local and foreign law is dealt with in Chapter five and the thesis is concluded by a chapter on the liquidator's termination of office and the consequences of vacancy in this office.