If a liquidator is appointed to a company that is in administration, the administration will end. This means that when someone is chosen to wind up the company’s affairs and sell its assets, it stops the process of trying to save the company. You should know that the appointment of a liquidator is a big step that changes how the company is being managed.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321578.
239ABW: Court must not appoint interim liquidator if administration in creditors' interests, or
“Court won't appoint temporary company closer if staying open is better for people owed money”
239ABY: Former administrator is default liquidator, or
“The company's former administrator usually becomes the liquidator if no one else is chosen or available”
The appointment of a liquidator to a company in administration ends the administration.
