The voluntary winding up of a company does not bar the right of any creditor or contributory to have it wound up by the court; but in the case of an application by a contributory the court must be satisfied that the rights of the contributories will be prejudiced by a voluntary winding up.
Section 116: Saving for certain rights.
Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk
Part IV: Winding Up of Companies Registered under the Companies Acts — Chapter V: Provisions Applying to both kinds of Voluntary Winding Up
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