Part 10 — Dissolution Division 1 Cancellation of Incorporation
268 Duties of Liquidators Meeting of creditors
winding-up shall, within 7 days from the appointment, send notice
by post to all persons who appear to the liquidator to be creditors of
the company that a meeting of the creditors of the company will be
held on a date, not being less than 14 nor more than 42 days after
the appointment, and at a place and hour to be specified in the
notice, and shall also advertise notice of the meeting once at least
in a local newspaper circulating in the district where the registered
office or principal place of business of the company was situated.
(2) Every liquidator who fails to comply with the requirements of
subsection (1) is guilty of an offence.
(3) At the meeting to be held pursuant to subsection (1) the
creditors shall determine whether an application should be made to
the Court for the appointment of any person as liquidator in the
place of or jointly with the liquidator appointed by the company, or
for the appointment of a committee of inspection, and, if the
creditors so resolve, an application may be made accordingly to the
Court at any time, not later than 14 days after the date of the
meeting, by any creditor appointed for the purpose by the meeting.
(4) On the application the Court may make an order either for the
removal of the liquidator appointed by the company and for the
appointment of some other person as liquidator or for the
appointment of some other person to act as liquidator jointly with
the liquidator appointed by the company, or for the appointment of
a committee of inspection either together with or without any such
appointment of a liquidator, or any other order that, having regard
to the interests of the creditors and contributories of the company,
seems just.
(5) No appeal lies from any order of the Court on an application
under this section.
(6) The Court may make any order as to the costs of the
application it thinks fit, and if it is of the opinion that, having
regard to the interests of the creditors in the liquidation, there were
reasonable grounds for the application, may order the costs of the
application to be paid out of the assets of the company,
notwithstanding that the application is dismissed or otherwise
disposed of adversely to the applicant.
RSA 2000 cC-21 s268;2020 c25 s2(116)
RSA 2000