Contributory insolvency: assignees stand in for the insolvent and liability to future calls may be proved against the estate. When a contributory is adjudged insolvent, his assignees in insolvency represent him for all winding up purposes and are contributories who may be called to admit proofs against the insolvent's estate or allow payment from his assets; the estimated value of his liability to calls, including future calls, may be proved against the estate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Contributory insolvency: assignees stand in for the insolvent and liability to future calls may be proved against the estate.
When a contributory is adjudged insolvent, his assignees in insolvency represent him for all winding up purposes and are contributories who may be called to admit proofs against the insolvent's estate or allow payment from his assets; the estimated value of his liability to calls, including future calls, may be proved against the estate.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.