Under a court ordered winding up, a liquidator does not have the power to:

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In a court ordered winding up, the liquidator is responsible for paying off the company's creditors before distributing any remaining funds to the shareholders. It would be inappropriate for the liquidator to pay the shareholders first, as they are not entitled to payment until the creditors have been satisfied. Therefore, the liquidator does not have the power to pay the company's shareholders before paying the creditors.

Under a Court Ordered Winding Up, a Liquidator Does Not