Brightlife Ltd had contracted with its bank, Norandex, to allow a floating charge to be converted to a fixed charge on notice, and this was done one week before a voluntary winding up resolution.
12.
If the company is solvent when it enters voluntary winding up it is said to be in " members'voluntary winding up ", and if it is insolvent it is said to be in " creditors'voluntary winding up ".
13.
If the company is solvent when it enters voluntary winding up it is said to be in " members'voluntary winding up ", and if it is insolvent it is said to be in " creditors'voluntary winding up ".
14.
If the company is solvent when it enters voluntary winding up it is said to be in " members'voluntary winding up ", and if it is insolvent it is said to be in " creditors'voluntary winding up ".
15.
Despite a wide range of activities and strategies designed to retain and grow membership over the past 18 months, the organisation had continued its decline to a point where a voluntary winding up of the company was the only prudent option.
16.
Of the total, 1, 427 company registrations were cancelled by the Registrar of Companies because they were not active for more than six years, 676 firms opted for voluntary winding up through the legal process and 22 companies were wound up by the High Court after petitions by creditors.
17.
If it appeared to the liquidator in a voluntary winding up that any past or present director, manager or other officer of the company had been guilty of an offence in relation to the company for which he was criminally liable, section 77 ( 2 ) required him to report the matter to the Director of Public Prosecutions.
