assets in the possession of creditors if the, Business Law and Ethics

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assets in the possession of creditors if the

ASSETS IN THE POSSESSION OF CREDITORS:

If the creditor has seized assets in the course of executing a judgement for debt against the company and at the commencement of the winding up or on receiving notice that it is about to begin the creditor has not completed the process of recovering what is owed to him, the liquidator may compel him to return the asset to the company.

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