315 Appointment of liquidator in compulsory winding up

(1) When making a compulsory winding up order, the Court shall appoint
such liquidator as it thinks fit, who may be a liquidator nominated by the
applicant.

(2) The Court may, whether before or after appointing a person to the office

of liquidator, order that monies received by him be paid into an account
specified by the Court.


(3) Subject to the terms of the liquidator‘s appointment, a liquidator
appointed by the Court shall —

(a) take possession of, protect and realise the assets of the
company;

(b) identify all creditors of and claimants against the company;

(c) pay or provide for the payment of, or to discharge, all claims,
debts, liabilities and obligations of the company; and

(d) having done so, distribute any surplus assets of the company
amongst the members according to their respective entitlements
in accordance with the company‘s memorandum and articles.

(4) Where any notice or other document is required under this Sub-Part to be
filed by a liquidator, if the liquidator is not resident in Seychelles, the
document may only be filed by —

(a) a person licensed to provide international corporate services
under the International Corporate Service Providers Act (Cap
275); or

(b) a legal practitioner in Seychelles,

acting on behalf of the liquidator.