Liquidator authority to call uncalled capital requires contributories to pay outstanding contributions before any distribution is made. The liquidator may call and realise amounts due from contributories, including the uncalled capital, and collect arrears on prior calls notwithstanding ... Summary
Liquidator authority to call uncalled capital requires contributories to pay outstanding contributions before any distribution is made.
The liquidator may call and realise amounts due from contributories, including the uncalled capital, and collect arrears on prior calls notwithstanding any charge or encumbrance; realized funds are held subject to holders' rights. No distribution may be made to a contributory unless that contributory first makes the required contribution to the uncalled or unpaid capital as per the corporate person's constitutional documents.
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