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        Trust and Society

        Section 92 - Priority of contributions assessed by liquidator.

        Multi-State Co-Operative Societies Act, 2002
        Chapter X
        WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY

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        Priority of contributions: liquidator-assessed contributions rank immediately after public claims in insolvency distribution. Contributions assessed by a liquidator are ranked in the insolvency priority order immediately after public claims, so that notwithstanding other insolvency laws, liquidator-assessed contributions occupy a defined position directly behind debts due to government and local public authorities in the distribution hierarchy during winding-up of cooperative societies.
                          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.

                              Priority of contributions: liquidator-assessed contributions rank immediately after public claims in insolvency distribution.

                              Contributions assessed by a liquidator are ranked in the insolvency priority order immediately after public claims, so that notwithstanding other insolvency laws, liquidator-assessed contributions occupy a defined position directly behind debts due to government and local public authorities in the distribution hierarchy during winding-up of cooperative societies.


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