Question 4 Established fer more than 20 years ago, Hi] Ltd engages in Chinese Restaurant targeting business and high end customers with four branches two of them are located in Central and Causeway Bay and other two are situated in Tsim Sha Tsui and Kowloon Tong. The social unrest in the mid of 2019 as well as the outbreak of COVID 19 in Hong Kong since the beginning of 2020 posed severe negative impact to restaurant's industry. The government policies in limiting the business hours of food and drink businesses further strike on HI} Ltd's operation and business performance. As HIJ Ltd bears substantial overheads in terms of rental charges and staff salaries, it is troubled by the cash ow problem and the outstanding rents might not be paid in December 2020. Because of the uncertainty about the future, the board has decided to liquidate the company not later than May 202}. Based on the information above, recommend (i) which type of liquidation, members' voluntary winding up or creditors' voluntary winding up, is suitable for HU Ltd, and, (ii), illustrate the steps to be taken to put HI] Ltd into that recommended type of liquidation