A provisional liquidator may be appointed to a company already in members' voluntary winding up where insolvency is established and the voluntary winding up arrangements are inadequate to preserve the status quo, particularly where creditors have no role in the voluntary process. The court will apply s 503 removal principles when considering whether to appoint a person other than the existing voluntary liquidator, and the wishes of creditors representing a large majority of claims by value are a significant factor, though not determinative.
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