Power to order costs allows the tribunal to direct payment from company assets and fix priority among competing claims. The Tribunal may direct that the costs, charges and expenses incurred in the winding up be paid out of the company's assets where those assets are insufficient to satisfy liabilities, and may determine the order of priority inter se for such payments in such manner as it considers just and proper.
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.
Power to order costs allows the tribunal to direct payment from company assets and fix priority among competing claims.
The Tribunal may direct that the costs, charges and expenses incurred in the winding up be paid out of the company's assets where those assets are insufficient to satisfy liabilities, and may determine the order of priority inter se for such payments in such manner as it considers just and proper.
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