Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Creditors Can Claim Missed Dividends Under Rule 178 if Debt Proven Before Liquidator's Fund Distribution</h1> Under Rule 178 of the Company Court Rules, 1959, a creditor who has not proved their debt before the declaration of dividends is entitled to receive payment from any funds available with the Liquidator for distribution. This entitlement applies to dividends the creditor missed before the funds are used for future dividends. However, the creditor cannot disrupt the distribution of dividends declared before their debt was proven due to their non-participation in those distributions.
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