The financial encyclopedia uses cookies to improve your user experience. Find out more here!



 

 


 

Committee of inspection
 

 

A committee appointed by creditors in a winding-up to supervise the liquidation of a company. The company may appoint up to five persons to be members of the committee but the creditors must approve the choice. A committee of inspection is only necessary in a creditors' voluntary winding-up or a winding-up by the court.

Reference: The Penguin Business Dictionary, 3rd edt.