86
against company and to appoint provisional official liquidator.
25 & 26 Vict. c. 89 s. 85.
Powers of the
No. 1.] THE ORDINANCES OF HONGKONG : [A.D. 1865.
making an order for winding up the company, on the application of the company or of any creditor or contributory of the company, restrain further proceedings in any action, suit, or proceeding against the company, on such terms as the Court thinks fit.
(2.) The Court may also, at any time after the presentation of such petition and before the first appointment of liquidators, appoint provisionally an official liquidator of the estate and effects of the company.
134. On hearing the petition the Court may dismiss it with or without costs, or adjourn the hearing conditionally or unconditionally, or make any interim order or any other order that it thinks just.
Stay of actions, etc., on winding-up order. Ib. s. 87.
Copy of order
135. When an order has been made for winding up a company under this Ordinance, no action, suit, or other proceeding shall be proceeded with or commenced against the company, except with the leave of the Court and subject to such terms as the Court may impose.
136. When an order has been made for winding up a company under this Ordinance, a copy of such order shall forthwith be forwarded by the company to the Registrar of Companies, who shall make a minute thereof in his books relating to the company.
to be forwarded to Registrar. Ib. s. 88.
Power of the Court to stay proceedings for winding up. Ib. s. 89.
Effect of order on share capital of company limited by guarantee. Ib. s. 90.
The Court may have regard to wishes of creditors or contributories. Ib. s. 91.
137. The Court may, at any time after an order has been made for winding up a company, on the application by motion of any creditor or contributory of the company, and on proof to the satisfaction of the Court that all proceedings in relation to such winding-up ought to be stayed, make an order staying the same, either altogether or for a limited time, on such terms and subject to such conditions as the Court thinks fit.
138. When an order has been made for winding up a company limited by guarantee and having a capital divided into shares, any share capital that may not have been called up shall be deemed to be assets of the company, and to be a debt of the nature of a specialty debt due to the company from each member to the extent of any sums that may be unpaid on any shares held by him, and payable at such time as may be appointed by the Court.
139.-(1.) The Court may, as to all matters relating to the winding-up, have regard to the wishes of the creditors or contributories, as proved to it by any sufficient evidence.
(2.) The Court may, if it thinks expedient, direct meetings of the creditors or contributories to be summoned, held, and conducted in such manner as the Court may direct for the purpose of ascertaining their wishes, and may appoint a person to act as chairman of any such meeting and to report the result of such meeting to the Court.
(3.) In the case of creditors, regard is to be had to the value of the debts due to each creditor, and in the case of contributories to the number of shares held by each contributory.
86
against com-
pany and to appoint pro- visional offi- cial liqui- dator.
25 & 26 Vict. ė. 89 s. 85.
Powers of the
No. 1.] THE ORDINANCES OF HONGKONG :· [À.D. 1865.
making an order for winding up the company, on the application of the company or of any creditor or contributory of the company, restrain further proceedings in any action, suit, or proceeding against the com- pany, on such terms as the Court thinks fit.
(2.) The Court may also, at any time after the presentation of such petition and before the first appointment of liquidators, appoint provi- sionally an official liquidator of the estate and effects of the company.
134. On hearing the petition the Court may dismiss it with or with- Court on hear out costs, or adjourn the hearing conditionally or unconditionally, or ing petition. Ib. s. 86. make any interim order or any other order that it thinks just.
Stay of ac- tions, etc., on winding-up order. Ib. s. 87.
Copy of order
135. When an order has been made for winding up a company under this Ordinance, no action, suit, or other proceeding shall be proceeded with or commenced against the company, except with the leave of the Court and subject to such terms as the Court may impose.
136. When an order has been made for winding up a company under to be forward- this Ordinance, a copy of such order shall forthwith be forwarded by ed to Regis-
the company to the Registrar of Companies, who shall make a minute thereof in his books relating to the company.
trar.
Ib.
s. 88.
Power of the
Court to stay
proceedings for winding
up. Ib. s. 89.
Effect of order
on share capi-
tal of com-
pany limited by guarantee. Ib. s. 90.
The Court may have
regard to wishes of creditors or contribu- tories.
Ib. s. 91.
187. The Court may, at any time after an order has been made for winding up a company, on the application by motion of any creditor or contributory of the company, and on proof to the satisfaction of the Court that all proceedings in relation to such winding-up ought to be stayed, make an order staying the same, either altogether or for a limited time, on such terms and subject to such conditions as the Court thinks fit. 138. When an order has been made for winding up a company limit- ed by guarantee and having a capital divided into shares, any share capital that may, not have been called up shall be deemed to be assets of the company, and to be a debt of the nature of a specialty debt due to the company from each member to the extent of any sums that may be unpaid on any shares held by him, and payable at such time as may be appointed by the Court.
139.-(1.) The Court may, as to all matters relating to the winding- up, have regard to the wishes of the creditors or contributories, as proved to it by any sufficient evidence.
(2.) The Court may, if it thinks it expedient, direct meetings of the creditors or contributories to be summoned, held, and conducted in such manner as the Court may direct for the purpose of ascertaining their wishes, and may appoint a person to act as chairman of any such meeting and to report the result of such meeting to the Court.
(3.) In the case of creditors, regard is to be had to the value of the debts due to each creditor, and in the case of contributories to the num-
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