Company Law (90)
HELD:
"The legal consequences of appointing a receiver/manager is that the assets which hitherto were available to the company become seised of the control of the receiver/manager and the company can only deal with assets of the company with the receiver's consent.
HELD:
"The law is, however, trite that a limited liability company is a separate personality, different from its directors and promoters, and so should sue or be sued in its own name as regards its property or interest.
HELD:
"A company may be wound up by the Court if it was unable to pay its debt.
HELD:
"A company may be wound up if it is unable to pay its debts.
HELD:
"a winding up order of a company will be refused where the insolvency or inability to pay the debt is the ground for the petition of the alleged debt in dispute.
HELD:
"...With this placed before the Federal High Court, should the Court have proceeded to grant up the winding up petition?
HELD:
"Section 408 provides circumstances in which companies may be wound up by Court.
HELD:
"The winding up by the Court is statutorily regulated by the provision of Company and Allied Matters Act (supra).