What happens to the directors
When a liquidator is appointed, the directors;
• No longer control the affairs of the company except if it is permitted by court.
• Cannot act on behalf of the company.
If you are a director you must;
• Disclose fully and truthfully to the liquidator all the property of the company and details of the disposal of any property by the company including property disposed of in the ordinary course of business;
• Deliver all property of the company in or under their custody or control to the liquidator.
• Appear to the liquidator for questioning if and when he sees fit.