Understanding the concept of cross-border judicial assistance.

In winding up a company, a liquidator is usually saddled with the immediate responsibility, upon appointment, of gathering and taking into his custody all the assets of the company being wound up. This may sometimes require instituting a legal action. The liquidator is also empowered to sell these assets and the proceeds thereof form part of the monies to be distributed to the creditors. He may also institute debt recovery actions against the debtors of the company and/or intervene in actions involving the assets of the company. In the course of the proceedings, it may be necessary to summon and cross examine witnesses for information on the company’s assets, seek production and inspection of documents, obtain interim seizure of assets etc. The work of a liquidator in a winding up process will therefore generally require different forms of judicial assistance.