A liquidator in a creditors' voluntary winding up may seek court approval under s 477(2B) without consulting or informing the committee of inspection or creditors generally, and without disclosing the identities of third parties to the agreements. The committee of inspection has no power to give directions to the liquidator and the liquidator alone decides whether and to what extent to consult the committee on matters outside its enumerated statutory powers. Procedural fairness does not require notice to committee members or creditors where they are not persons likely to be adversely affected by the approval order.
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