Admission of contingent debts: contingent and future claims admissible to proof with estimated value in winding up. All debts and claims against an LLP, including contingent, present or future, certain or contingent, ascertained or sounding only in damages, are admissible to proof in winding up; a just estimate of the value of such contingent or damage only claims must be made. For insolvent LLPs, admission to proof is subject to application of the law of insolvency under the Act.
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.
Admission of contingent debts: contingent and future claims admissible to proof with estimated value in winding up.
All debts and claims against an LLP, including contingent, present or future, certain or contingent, ascertained or sounding only in damages, are admissible to proof in winding up; a just estimate of the value of such contingent or damage only claims must be made. For insolvent LLPs, admission to proof is subject to application of the law of insolvency under the Act.
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