Power to order costs: payment from company assets to cover winding-up expenses ranked as Tribunal directs. The Tribunal may order payment out of a company's assets of the costs, charges and expenses incurred in the winding up and determine the order of priority among such claims when assets are insufficient to satisfy liabilities.
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: payment from company assets to cover winding-up expenses ranked as Tribunal directs.
The Tribunal may order payment out of a company's assets of the costs, charges and expenses incurred in the winding up and determine the order of priority among such claims when assets are insufficient to satisfy liabilities.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.