Section 247 — Companies Act 1993: Power to stay or restrain certain proceedings against company

247 Power to stay or restrain certain proceedings against company At any time after the making of an application to the Court under section 241(2)(c) of this Act to appoint a liquidator of a company and before a liquidator is appointed, the company or any creditor or shareholder of the company may,— (a) In the case of any application or proceeding against the company that is pending in the Court or Court of Appeal, apply to the Court or Court of Appeal, as the case may be, for a stay of the application or proceeding: (b) In the case of any other application or proceeding pending against the company in any court or tribunal, apply to the Court to restrain the application or proceeding— and the Court or Court of Appeal, as the case may be, may stay or restrain the application or proceeding on such terms as it thinks fit. Compare: 1955 No 63 s 221