Section 577 CAMA 2020
Section 577 Companies and Allied Matters Act is about Avoidance of attachments. It is under Chapter 21 (Winding-up by the court jurisdiction) of the Act.
Where a company is being wound up by the Court, any attachment,sequestration, distress or execution put in force against the estate or effects of the company after the commencement of the winding-up is void :
Provided the provisions of this section do not apply to a fixed charge or any other validly created and perfected security interest other than a floating charge.
