(ii) Explain four instances when the release of a liquidator becomes effective.(6 Marks)

(ii) Explain four instances when the release of a liquidator becomes effective.

Expert Solution

Answer
The four instances when the release of liquidator becomes effective are discussed as follows-
1. When the liquidator has realized all the property of the company or in his opinion the property be released without needlessly protracting the liquidation and has distributed final dividends, if any to the creditors.
2. When the liquidator has been resigned for he has been remove from his responsibilities in his office.
3. When the court has an order that he has been released.
4. When the court has an order that he has been released and that particular company in which he has been working has been dissolved.

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keosha answered 2 years ago

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