Where an application is made to the Court to appoint a receiver on behalf of the debenture holder or other creditors of a company which is being wound up by a court, an official receiver may be appointed.
Companies and Allied Matters Act 2020 · Part B · Chapter 19
Section 551Power of the court to appoint official receiver for debenture holders and other creditors
Cite as: Companies and Allied Matters Act 2020, section 551
What this section means
From the guide: Receivers and managers under CAMA 2020: appointment, powers, duties and liability
- Where a company is being wound up by the court, an official receiver can be appointed for debenture holders and other creditors (section 551).
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Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.