Contributory payment obligations and permitted set offs in company winding up, including director unlimited liability adjustments against calls. The Tribunal, after a winding up order, may require any contributory on the contributory list to pay amounts due to the company (excluding amounts payable as calls). The Tribunal may permit set off: in unlimited companies against sums from independent dealings (excluding dividends/profits); in limited companies for directors or managers with unlimited liability (or their estates). If all creditors are paid, any sums due to a contributory may be set off against later calls.
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 payment obligations and permitted set offs in company winding up, including director unlimited liability adjustments against calls.
The Tribunal, after a winding up order, may require any contributory on the contributory list to pay amounts due to the company (excluding amounts payable as calls). The Tribunal may permit set off: in unlimited companies against sums from independent dealings (excluding dividends/profits); in limited companies for directors or managers with unlimited liability (or their estates). If all creditors are paid, any sums due to a contributory may be set off against later calls.
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