Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698068105951.pdf (Guyana)
3712 CH.

178.

 COMPANIES (CONSOLIDATION).
capable of resulting in debts, and all claims, whether present or future, certain or contingent, ascertained or sounding only in damages, subsisting or supposed to sub- sist between the company and any contributory or alleged contributory, or other debtor or person apprehending lia- bility to the company, and all questions in any way relating to or affecting the assets of the company or the winding-up of the company, upon the receipt of such sums, payable at such times, and generally upon such terms, as may be agreed upon, and with power for the liquidators to take any security for the discharge of those debts or liabilities, and to give complete discharges in respect of all or any of those calls, debts, or liabilities.
205.
Where any compromise or arrangement is proposed between a company which is being wound up by the Court or subject to the supervision of the Court, or altogethe voluntarily, and the creditors or any class of the creditors of the company, the Court, on the application in a sum- mary way of any creditor or of the liquidators, may order that, a meeting of the creditors or class of creditors shall be summoned in the manner the Court directs; and if a majority in number representing three fourths in value of the creditors or class of creditors, present either in person or by proxy at the meeting, agree to any arrangement or compromise, that arrangement or compromise, if sanc tioned by an order of the Court, shall be binding on all those creditors or that class of creditors, as the case may be, and also on the liquidators and contributories of the company.
206.

Where a company is being wound up by the Court or subject to the supervision of the Court, any attachment, sequestration, distress, or execution put into force against the estate or effects of the company after the commencement of the winding-up shall be void to all intents.
207.—(1) Any transfer, assignment, deliVery of goods, payment, or other act relating to property which, if made or done by or against any individual would be deemed, in the event of his insolvency, to have been made or done by way of undue or fraudulent preference of the creditors of that individual, shall, if made or done by or against a com- pany, be deemed, if the company is wound up under this Ordinance, to have been made or done by way of undue or fraudulent preference of the creditors of the company and shall be invalid accordingly.
• Where compromise proposed court may order a meeting of creditors to decide as to the com- promise.

Avoidance of execution against company after com- mencement of winding- up.

Fraudulent preference.

COMPANIES (CONSOLIDATION).

 CH.

178.

 2713 Assessment of damages against delinquent directors, officers, and promoters.
(2) For the purposes of this section, the presentation of a petition for winding up a company in the case of a company being wound up by the court or subject to the supervision of the court, and a resolution for winding up the company in the case of a voluntary winding-up, shall be deemed to correspond with the act of insolvency in the case of an individual.
(3) Any conveyance or assignment made by any com- pany formed under this Ordinance of all its estate and effects to trustees for the benefit of all its creditors shall be void to all intents.
208.—(1 ) Where during the winding-up of a company under this Ordinance it appears that anyone who has taken part in the formation or promotion of the company, or any past or present director, manager, liquidator, or other officer of the company, has misapplied or retained, or become liable or accountable for, any moneys or property of the company, or has been guilty of any misfeasance or breach of trust in relation to the company, the Court, on the application of the Official Receiver or the liquidator of the company, or of any creditor or contributory of the com- pany, may examine info the conduct of that promoter, director, manager, liquidator, or other officer and compel him to repay any moneys or restore any property so mis-, applied, or retained, or for which he has become liable o accountable, together with interest after the rate the Cour thinks just, or to contribute any sums of money to the assets of the company by way of compensation, in respect of the misapplication, retainer, misfeasance, or breach of trust, which the Court thinks just.
(2) The provisions of thikk section shall apply in the winding-up of a company under this Ordinance whether the company is being wound up by or subject to the super- vision of the Court or voluntarily, and whether the wind- ing-up commenced before or after the passing of this Ordi- nance, and notwithstanding that the offence is one for which the offender may be criminally responsible.

209.
209.

An order for payment of money made by the Court under the last preceding section shall be deemed to be a final judgement within the meaning of paragraph (f) of sub-section (1) of section three of the Insolvency Ordinance.

Effect ofd order and preceding section.

Chapter 180.

210.

Any director, officer, or contributory of any com- pany wound up under this Ordinance who destroys, mutilates, alters, or falsifies, any books, papers, writings, or Destroying documents or making false entries therein.

0