winding up (1) A receiver of property of a corporation that is being wound up
may:
- (a)
- with the written approval of the corporation's liquidator or with
the approval of the Court, carry on the corporation's business either
generally or as otherwise specified in the approval; and
- (b)
- do whatever is necessarily incidental to carrying on that business under
paragraph (a).
(2) Subsection (1) does not:
- (a)
- affect a power that the receiver has
otherwise than under that subsection; or
- (b)
- empower the receiver to do an act that he or she would not have power to
do if the corporation were not being wound up.
(3) A receiver of property of a corporation who carries on the corporation's
business under subsection (1) does so:
- (a)
- as agent for the
corporation; and
- (b)
- in his or her capacity as receiver of property of the corporation.
(4) The consequences of subsection (3) include, but are not limited to,
the following:
- (a)
- for the purposes of subsection 419(1), a debt that the
receiver incurs in carrying on the business as mentioned in
subsection (3) of this section is incurred in the course of the
receivership;
- (b)
- a debt or liability that the receiver incurs in so carrying on the
business is not a cost, charge or expense of the winding up.