C-67.3 - Act respecting financial services cooperatives

Section 547.71 Disposition versions

2018-12-07

547.71. When ruling on an application, the court may make any order concerning the winding-up of the legal person. It may, among other things,

(1)  suspend any judicial or administrative proceeding against the legal person, on the conditions the court considers appropriate;

(2)  prescribe any measure to identify and perform the obligations of the legal person or make provision for them;

(3)  give instructions to the liquidator;

(4)  approve the performance of any obligation or the execution of any arrangement made with an authorized financial institution or a bank to assume the deposit liabilities of the legal person to be wound up;

(5)  order that provision be made for the performance of any obligation of the legal person to be wound up;

(6)  fix, on the conditions it determines, a time after which no person may, without the authorization of the court, make a claim against the legal person;

(7)  specify the order in which the shares of the different classes and series issued before the amalgamation referred to in the first paragraph of section 547.51 will be redeemed by the financial services cooperatives; and

(8)  approve the liquidator’s final account.

2018, c. 23, s. 315.

Not in force

Not in force

547.71. When ruling on an application, the court may make any order concerning the winding-up of the legal person. It may, among other things,

(1)  suspend any judicial or administrative proceeding against the legal person, on the conditions the court considers appropriate;

(2)  prescribe any measure to identify and perform the obligations of the legal person or make provision for them;

(3)  give instructions to the liquidator;

(4)  approve the performance of any obligation or the execution of any arrangement made with an authorized financial institution or a bank to assume the deposit liabilities of the legal person to be wound up;

(5)  order that provision be made for the performance of any obligation of the legal person to be wound up;

(6)  fix, on the conditions it determines, a time after which no person may, without the authorization of the court, make a claim against the legal person;

(7)  specify the order in which the shares of the different classes and series issued before the amalgamation referred to in the first paragraph of section 547.51 will be redeemed by the financial services cooperatives; and

(8)  approve the liquidator’s final account.

2018, c. 23, s. 315.