In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the?
-
A.
directors -
B.
creditors -
C.
promoters -
D.
court
Correct Answer: Option A
Explanation
What is a Liquidator? A liquidator or an official receiver manages the entire liquidation process. He or she is appointed when a company goes into liquidation or is wound up by the Court in a compulsory liquidation process, which is brought about by a disgruntled creditor. In a voluntary liquidation, the board of directors appoint a liquidator