Winding-up and Restructuring Act (R.S.C., 1985, c. W-11)

Act current to 2013-04-29 and last amended on 2013-04-01. Previous Versions

22.2 [Repealed, 2012, c. 31, s. 423]

Previous Version

Appointment of Liquidators

Marginal note:Liquidator

  • 23. (1) A court, in making a winding-up order in respect of a company, may appoint a liquidator or more than one liquidator of the estate and effects of the company.

  • Marginal note:Trustee under Bankruptcy and Insolvency Act

    (2) In the case of a company, except incorporated building societies and railway companies, a court shall not appoint as liquidator any person, other than the Canada Deposit Insurance Corporation, who is not licensed as a trustee under the Bankruptcy and Insolvency Act.

  • Marginal note:Superintendent not to be liquidator

    (3) The Superintendent shall not be appointed as a liquidator of a company.

  • R.S., 1985, c. W-11, s. 23;
  • 1992, c. 27, s. 90;
  • 1996, c. 6, s. 143.
Marginal note:If more than one liquidator

24. If more than one liquidator is appointed, a court may

  • (a) direct whether any act to be done by a liquidator is to be done by all or any one or more of the liquidators; and

  • (b) allocate responsibilities among the liquidators or permit them to allocate responsibilities among themselves.

  • R.S., 1985, c. W-11, s. 24;
  • 1996, c. 6, s. 144;
  • 1999, c. 31, s. 223.
Marginal note:Additional liquidators

25. A court may, if it thinks fit, after the appointment of one or more liquidators, appoint an additional liquidator or liquidators.

  • R.S., c. W-10, s. 25.
Marginal note:Notice

26. Except as otherwise ordered by the court, no liquidator shall be appointed under subsection 23(1) unless a previous notice is given to the creditors, contributories and shareholders or members of the company, and the court shall by order direct the manner and form in which the notice shall be given and the length of the notice.

  • R.S., 1985, c. W-11, s. 26;
  • 1996, c. 6, s. 145.
Marginal note:Security

27. The court shall determine what security shall be given by a liquidator on his appointment.

  • R.S., c. W-10, s. 27.
Marginal note:Provisional liquidator

28. A court may, on the presentation of a petition for a winding-up order or at any time thereafter and before the first appointment of a liquidator, appoint provisionally a liquidator of the estate and effects of the company and may limit and restrict his powers by the order appointing him.

  • R.S., c. W-10, s. 28.