(1) This section applies where a company has passed a resolution to wind up voluntarily.
(2) If, on application to it by a creditor of the company in accordance with subsection (3), the court -
(a) is satisfied that such creditor, together with any creditors supporting him or her in the application, represents one-fifth at least in number or value of the creditors of the company, and
(b) is of opinion that it is unlikely that the company will be able to pay or discharge its debts and other liabilities within the period specified in the declaration concerned referred to in section 207 or 580(2),
the court may order that all the provisions of this Act relating to a creditors' voluntary winding up shall apply to the winding up of the company.
(3) An application under subsection (2) shall be made within 30 days after the date on which the resolution for voluntary winding up of the company has been advertised under section 581(1).
(4) If (in a case where the Summary Approval Procedure is em
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