144. Powers of liquidator

carry on the business of the company so far as is necessary for the beneficial winding up of the company, but such authorisation is not necessary to so carry on the business of the company during the 4 weeks immediately after the date of the winding up order;

subject to section 203, pay any class of creditors in full;

make any compromise or arrangement with creditors or persons claiming to be creditors, or having or alleging themselves to have any claim, present or future, certain or contingent, ascertained or sounding only in damages, against the company, or by which the company may be rendered liable;

compromise any calls and liabilities to calls, debts and liabilities capable of resulting in debts, and any claims, present or future, certain or contingent, ascertained or sounding only in damages, subsisting, or supposed to subsist, between the company and a contributory or other debtor or person apprehending liability to the company, and all questions in any way relating to or affecting the assets or the winding up of the company, on such terms as are agreed, and take any security for the discharge of any such call, debt, liability or claim, and give a complete discharge in respect of any such call, debt, liability or claim;

bring or defend any action or other legal proceeding in the name and on behalf of the company;

appoint a solicitor —

to assist the liquidator in the liquidator’s duties; or

to bring or defend any action or legal proceeding in the name and on behalf of the company; and

assign, in accordance with the regulations, the proceeds of an action arising under section 224, 225, 228, 238, 239 or 240.

compromise any debt due to the company, other than calls and liabilities to calls and other than a debt where the amount claimed by the company to be due to it exceeds the prescribed amount;

sell the immovable and movable property and things in action of the company by public auction, public tender or private contract, with power to transfer the whole of the immovable and movable property and things in action of the company to any person or company or to sell the same in parcels;

do all acts and execute in the name and on behalf of the company all deeds, receipts and other documents, and for that purpose use when necessary the company’s seal, if any;

prove, rank and claim in the bankruptcy under any law of any contributory or debtor for any balance against the estate of the contributory or debtor, and receive dividends in the bankruptcy in respect of that balance as a separate debt due from the contributory or debtor;

draw, accept, make and indorse any bill of exchange or promissory note in the name and on behalf of the company with the same effect with respect to the liability of the company as if the bill or note had been drawn, accepted, made or indorsed by or on behalf of the company in the course of its business;

raise on the security of the assets of the company any money required;

take out letters of administration of the estate of any deceased contributory or debtor, and do any other act necessary for obtaining payment of any money due from a contributory or debtor or the estate of the contributory or debtor which cannot be conveniently done in the name of the company, and in all such cases the money due is, for the purposes of enabling the liquidator to take out the letters of administration or recover the money, deemed due to the liquidator himself or herself;

appoint an agent to do any business which the liquidator is unable to do himself or herself; and

do all such other things as are necessary for winding up the affairs of the company and distributing its assets.