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CLAW3501 Question 4 A. In relation to company law explain the meaning of the twin concepts of liquidation and winding up. (4 marks) B. Distinguish

CLAW3501 Question 4 A. In relation to company law explain the meaning of the twin concepts of "liquidation" and "winding up". (4 marks) B. Distinguish between members' voluntary winding up and creditors' voluntary winding up. (14 marks) C. In accordance with the Companies Act 2004, state the ranking of creditors in the event of corporate insolvency. (7 marks) (Total 25 marks) Question 5 A. Outline TWO (2) powers of directors in relation to the execution of their responsibilities to the company. (5 marks) B. With the used of decided cases, discuss FOUR (4) duties of directors. (20 marks) (Total 25 marks)

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