If a vacancy occurs, by death, resignation or otherwise, in the office of a liquidator, other than a liquidator appointed by the direction of the Court, the creditors may fill the vacancy.
Companies and Allied Matters Act 2020 · Part B · Chapter 22
Section 639Power to fill vacancy in the office of liquidator
Cite as: Companies and Allied Matters Act 2020, section 639
What this section means
From the guide: Voluntary winding up under CAMA 2020: members’ and creditors’ winding up
- Creditors can set up a committee of inspection of up to five people, and the committee or the creditors fix the liquidator’s pay and fill vacancies (sections 637 to 639).
Read the whole subject
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.