WorksheetsWINDING UP
Total questions: 20
Worksheet time: 14mins
Which of the following cannot initiate a proceeding for compulsory winding up of a company?
Minister
Creditor
Company
Local bank
A creditor’s voluntary winding up starts with the creditor's petition to the court.
TRUE
FALSE
Which of the following statements is not the ground of a compulsory winding up?
The company is formed for unlawful purpose.
No business within a year from its incorporation.
The company has no member.
The directors fail to lodge a declaration of solvency to the Registrar of companies.
The above statement refers to the process of _______.
Winding up
Formation of a new company
Drafting a pre-incorporation contract
Drafting the Memorandum and Articles of Association
In relation to the above situation Uptown Bus Services Sdn Bhd may be dissolved by ______.
Fraud
Deadlock
Failure to substratum
no members in the company
Which one of the following is the best ground to dissolve Syarikat Chipsmore Sdn Bhd?
Just and equitable
The company is used for unlawful purposes
The Company is unable to pay its debts
The license of the company under Islamic Banking Act 1983 has been revoked.
Which of the followings are the reasons to winding up a company?
i. A company become insolvent
ii. It was ordered to wind up by the court
iii. The expiration of the company's life as per its constitution
iv. The death of one of its Board of Directors.
i, ii, iii
ii, iii, iv
i, ii, iv
i, iii, iv
By the provision of section 432 Companies Act 2016, the winding up of the company can either be .....
Voluntary winding up
Special winding up
Compulsory winding up
Ordinary winding up
The Voluntary winding up can either be .......
creditors' voluntary winding up
shareholders' voluntary winding up
winding up by court order
members' voluntary winding up
The declaration of solvency can best be defined as ......
acknowledgement that the company is solvent
acknowledgement that the company is insolvent
acknowledgement that the company's affair is closed
acknowledgement that the company is exist.
a. A company lodge a declaration of solvency to Registrar.
b. This declaration is made at the director's meeting.
c. To show that the company able to pay the debts in full.
The above statements can best be referred to the .....
creditors' voluntary winding up
members' voluntary winding up
Compulsory winding up
Voluntary winding up
The following statements are the effects of winding up except ........
the creditors cannot enforce any judgment agaisnt the company
the company is prevented from carrying on a business
the director will lose their power to manage the business
the company is allowed to issue shares to the public
Which of the following person cannot file a petition to the court for winding up order?
The promoter
The creditor
The company
the liquidator
Which of the following is not a ground to wind up a company?
The death of its directors
The special resolution passed by the members to wind up the company
The company is unable to pay its debts
No members in the company
Dato' Jed, a director in Global Maju S/B had acted in his own interest rather than the interest of the company which it appear unjust or unfair to the company.
According to the above situation, Global Maju S/B may be dissolved by way of ......
Voluntary winding up
Compulsory winding up
The company does not commence business within a year from its incorporation or suspends its business for a whole year.
The above ground of winding up refers to .....
voluntary winding up
compulsory winding up
members' voluntary winding up
creditors' voluntary winding up
Members' voluntary winding up may be converted to creditors' voluntary winding up in the following situations except when ...........
the company is insolvent
The directors lodged the declaration of solvency to the Registrar
a liquidator forms an opinion that the company is unable to pay its debts
- The liability of Triple Z S/B exceeds its assets.
- The company is unable to pay its RM5, 000, 000 debts to the creditors.
- The company's cheques have not been honoured.
Based on the above circumstances, what are the most relevant action can be taken by the creditors against Triple Z S/B?
Application for compulsory winding up.
Application for an injunction
Application for specific performance
Application for take over the company
Under the rules of a High Court, an application for compulsory winding up must be filed with Affidavits in support.
TRUE
FALSE
Winding up is also known as liquidation.
TRUE
FALSE
