Schemes of Arrangement
The Companies Act 2014 facilitates the winding up and reorganisation of companies, allowing for the transfer or sale of assets and businesses to other companies. A liquidator can receive shares or other interests in a transferee company as compensation for distribution to members of the company being wound up. With shareholder approval, liquidators may arrange for shareholders to receive benefits from the transferee company, including shares or participation in profits. Dissenting shareholders can demand the purchase of their interest, with disputes resolved through arbitration.