|Liquidators, appointment of|
In the case of a voluntary winding-up, the liquidator is appointed by the members of the company (or by the creditors in a creditors' voluntary winding-up). In the case of a winding-up by the court, the court appoints the official receiver as provisional liquidator. He then calls meetings of creditors and contributories to decide whether to apply for the appointment of a liquidator proper and/or a committee of inspection.
|Reference: The Penguin Business Dictionary , 3rd edt.|