what is the difference between a Members Voluntary Winding up of a Company and Creditors Winding up?

1). The difference between the Members Voluntary Winding up of Company and Creditors Winding up of a Company is Creditor Winding up is initiated by creditors when directors fails to make declaration of solvency within 12 months; 

whereas; Members Winding up of a Company is initiated by members.

2). In Creditors Winding up; Normally Liquidator is appointed by Creditors and Company. But where the Company appoints different person, the person nominated by Creditors will be a Liquidator, 

whereas; 

In Members Winding up, the Liquidator is appointed by members after holding a general meeting of the Company.

3). In Creditors Winding up, Normally where is vacancy in office of Liquidator, Creditors may fill that vacancy save where the Liquidator is appointed by or under the direction of the Court, 

whereas; 

The Members Winding up the vacancy in office of Liquidator is filed by Company generals meeting subject to any arrangements with the Creditors.