Proceedings and Procedures - Collection and distribution of assets in a winding-up by TribunalLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Proceedings and Procedures - Collection and distribution of assets in a winding-up by TribunalLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Payment of subsequent interest protects creditors by awarding interest on admitted claims until final distributable sum declared. Creditors whose proofs have been admitted are entitled to interest on their admitted claims from the date of the winding up order or resolution until the ... Summary
Payment of subsequent interest protects creditors by awarding interest on admitted claims until final distributable sum declared.
Creditors whose proofs have been admitted are entitled to interest on their admitted claims from the date of the winding up order or resolution until the declaration of the final distributable sum, at a rate not exceeding the prime lending rate fixed by the Reserve Bank, after adjusting the admitted amount by distributable sums declared on each distribution date.
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