Miss Grace Sinclair and Miss Marjorie Burton are suppliers of raw materials to Lipton's Novelties and Gifts Ltd. The company has been operating for over twenty years but over the last few years the company has not been paying its bills on time to Ms. Sinclair and Ms. Burton.

It has now been over 12 months since a very substantial amount has been owed to them by the company and they have exhausted all efforts in appealing to and threatening the company for payment.

Miss Grace Sinclair and Miss Marjorie Burton are very despondent and wonder if they could take steps to wind up the company given the fact that their previous efforts have borne no fruit.

Required

Advise them on the procedure they would have to follow.