a. On the legal proceedings related to the company, debtors of the company or liquidators

When a winding-up order has been made, no legal proceeding shall be continued or commenced against the company without approval from the Court. In other words, all the other legal proceedings against the company will be automatically stayed or “frozen” upon the making of a winding-up order.

1. I am the defendant of a legal action brought against me by a company. I just discovered that a winding up order has been made against this company. Does it follow that the action against me will come to an end automatically?



2. I owe a substantial amount of money to a company that has just been wound up. Does it follow that I do not have to repay the debt?



3. What are the powers of liquidators when a company is wound up by the Court?



4. What are the powers of the Court under section 221 of the Companies Ordinance?