Hong Kong Regulations

COMPANIES (WINDING-UP) RULES - RULE 66

Collection and distribution of company's assets by liquidator

COLLECTION AND DISTRIBUTION OF ASSETS IN A WINDING UP BY THE COURT

(1) The duties imposed on the court by section 210(1) of the Ordinance, in a
winding up by the court with regard to the collection of the assets of the
company and the application of the assets in discharge of the company's
liabilities, shall be discharged by the liquidator as an officer of the court
subject to the control of the court.

(2) For the purpose of the discharge by the liquidator of the duties imposed
by section 210(1) of the Ordinance, and paragraph (1) of this rule, the
liquidator in a winding up by the court shall for the purpose of acquiring or
retaining possession of the property of the company, be in the same position
as if he were a receiver of the property appointed by the court, and the court
may, on his application, enforce such acquisition or retention accordingly.
[cf. R. 76]