where a liquidator over a company is appointed (either voluntarily or by the court), the liquidator's primary duty is to collect in all of the company's assets and then distribute them "pari passu" to the company's creditors. the law confers wide powers upon the liquidator to enable him to do so. once a liquidator is appointed, unsecured creditors cannot commence legal proceedings against the insolvent company without the leave of the court, and any rights of action against the company are converted into claims in the liquidation process. any disposition of property by the company after the commencement of winding-up is void unless the court otherwise orders.