Companies Act 2014 section 627

Liquidator's powers

Section 627 sets out the full range of powers available to a liquidator when winding up a company, covering legal proceedings, business continuation, dealing with creditors, property disposal, document execution, and all other matters necessary to complete the winding up.

• The liquidator may bring or defend legal proceedings on behalf of the company, continue or restart the company's business where necessary for the winding up, and appoint a solicitor or barrister to assist
• The liquidator may pay creditors in full, negotiate compromises with creditors and contributories on debts, claims and liabilities, sell company property by auction or private sale, and obtain credit on behalf of the company
• The liquidator may execute documents under the company seal, draw or endorse bills of exchange and promissory notes, take out letters of administration for deceased contributories or debtors, and appoint agents to carry out tasks
• The liquidator has broad residual power to do anything else necessary to wind up the company's affairs, protect its property, and distribute assets to those entitled