Questions are surrounding Insolvency and Liquidation

8) Briefly discuss the ways in which a company may be wound up, indicating the likely circumstances in which each is applicable.

9) What is the purpose of the report as to affairs (Form 507), the summary of affairs (Form 509), and the statement of receipts and payments (Form 524)? 17) Arrears of dividends are paid in the winding-up process in certain circumstances. Outline those circumstances.