• Can liquidators be dismissed?

    Yes. Liquidators can be dismissed by creditors and courts – but not by directors.

    Creditors can vote to dismiss the liquidator at any official creditors meeting – as long as a registered liquidator has agreed in writing to act as the new liquidator.

    The court can also order that the current liquidator be dismissed and be replaced by a new liquidator.

    Directors can’t dismiss liquidators, even if they were responsible for appointing the liquidator.

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