Section 648 CAMA 2020

Section 648 Companies and Allied Matters Act is about Saving of rights of creditors and contributories. It is under Chapter 22 (Voluntary winding-up resolutions for and commencement of voluntary winding-up) of the Act.

The voluntary winding-up of a company shall not bar the right of any creditor or contributory to have it wound up by the Court, but where the applicant for winding-up is a contributory, an order shall not be made unless the Court is satisfied that the rights of contributories shall be prejudiced by the members’ or creditors’ voluntary winding-up, as the case may be.