THE FIRST GROUP OF PARTS

PART 4 COMPANIES WINDING UP

CHAPTER 11 THE LIQUIDATOR

SECTION C: RELEASE ON COMPLETION OF ADMINISTRATION

4.125 Final meeting
(NO CVL APPLICATION)
1 Where the liquidator is other than the official receiver, he shall give at least 28 days' notice of the final meeting of creditors to be held under section 146. The notice shall be sent to all creditors who have proved their debts; and the liquidator shall cause it to be gazetted at least one month before the meeting is to be held.
[FORM 4.22]
2 The liquidator's report laid before the meeting under that section shall contain an account of the liquidator's administration of the winding up, including—
(a) a summary of his receipts and payments, and
(b) a statement by him that he has reconciled his account with that which is held by the Secretary of State in respect of the winding up.
3 At the final meeting, the creditors may question the liquidator with respect to any matter contained in his report, and may resolve against him having his release.
4 The liquidator shall give notice to the court that the final meeting has been held; and the notice shall state whether or not he has been given his release, and be accompanied by a copy of the report laid before the final meeting. A copy of the notice shall be sent by the liquidator to the official receiver.
[FORM 4.42]
5 If there is no quorum present at the final meeting, the liquidator shall report to the court that a final meeting was summoned in accordance with the Rules, but there was no quorum present; and the final meeting is then deemed to have been held, and the creditors not to have resolved against the liquidator having his release.
6 If the creditors at the final meeting have not so resolved, the liquidator is released when the notice under paragraph (4) is filed in court. If they have so resolved, the liquidator must obtain his release from the Secretary of State and Rule 4.121 applies accordingly.
Rule 4.125 in force at 29.12.1986, see rule 0.1