Co. Court has power to direct publication of an advertisement by liquidator to secure interest of creditor

CL : Winding up proceedings are proceedings in rem and have an impact on rights of people, in general. Thus, it is mandatory to advertise such proceedings, so as to ensure that they receive widest possible publicity and all relevant stakeholders have adequate notice. This implies that in a situation where petitioning creditor fails to advertise petition and no other creditor or contributory comes forward to prosecute it, Rule 101 should not be read in a manner that absolutely bars continuation o

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