In a winding-up by the Court the liquidator shall take into his custody, or under his control, all the property and choses in action to which the company is or appears to be entitled.
Companies and Allied Matters Act 2020 · Part B · Chapter 21
Section 586 Custody of company’s property
Cite as: Companies and Allied Matters Act 2020, section 586
What this section means
From the guide: Liquidators, the official receiver and the committee of inspection under CAMA 2020
- The liquidator takes custody of the company’s property (section 586), and the court can vest it in him (section 587).
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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.