Companies Act 2014 section 624

Duty of liquidator to administer, distribute, etc., property of company

Section 624 sets out the core duties of a liquidator in relation to dealing with the property of a company in liquidation.

• A liquidator has a legal duty to administer the property of the company to which they are appointed
• Administration includes identifying, collecting, realising (converting to cash), and distributing the company's property in accordance with law
• A provisional liquidator's duties are more limited and are confined to what the court order appointing them specifies
• Any subsequent court order may also define or amend the duties of a provisional liquidator