Hubby and Wifey were legally married for 20 years. After 10 years of marriage, they incorporated a private limited company, and they became the only directors and shareholders with equal voting rights. Ten years after the incorporation of the company, they experienced marital problems which led to Wifey filing for divorce. Since they were not talking to each other, the company ceased operations for months. Wifey has just filed a winding up petition. 

a. Assess whether the Wifey’s petition is in order by examining the parties that may petition for winding up. 

 b. Explain how voluntary winding up works for a company. 

 c. Suggest the consequences of winding up.

Answer rating: 100% (QA)

a Wifeys Winding Up Petition Eligibility to Petition Typically a windingup petition can be filed by ... View the full answer