Distribution of company assets on winding up: assets satisfy liabilities pari passu, then distributed to members per rights. On winding up, a company's assets are applied in satisfaction of its liabilities pari passu, subject to overriding preferential payments, and thereafter, ... Summary
Distribution of company assets on winding up: assets satisfy liabilities pari passu, then distributed to members per rights.
On winding up, a company's assets are applied in satisfaction of its liabilities pari passu, subject to overriding preferential payments, and thereafter, unless the articles provide otherwise, distributed among members according to their rights and interests.
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