Which entity is appointed to manage a Compulsory Liquidation?

In the context of a compulsory liquidation, the official receiver plays a pivotal role as the appointed entity responsible for managing the process. The official receiver is an officer of the court and acts as the first point of contact for the liquidation proceedings. Their primary responsibilities include gathering and realizing the assets of the company, ensuring compliance with legal requirements, and distributing any available funds to the creditors.

The official receiver also has the authority to operate the company in liquidation for a limited time, ensuring that the process adheres to the legal framework governing insolvencies. Their role is crucial because they represent the interests of both the creditors and the general public, ensuring that the liquidation proceeds fairly and transparently.

Other entities, such as a liquidator, may be involved subsequently in the process after the official receiver has been appointed, but the official receiver is initially tasked with overseeing the compulsory liquidation. Creditors and shareholders do not manage the liquidation; they may have interests in the outcome but do not have the authority to direct the process.