New Zealand law explained for everyone
When a company is being closed down, someone called a liquidator helps with this process. The liquidator needs to be paid for their work and may have other expenses. You should know that the money to pay for these things comes from the company’s assets. Assets are things the company owns, like money in the bank, equipment, or property. So, the company itself pays for the liquidator’s work and expenses using what it has, rather than someone else paying for it.
This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.
Next up: 279: Liquidator ceases to hold office on completion of liquidation
or “Liquidator's role ends when company liquidation is complete”The expenses and remuneration of the liquidator are payable out of the assets of the company.