Declaration of distributable sum requires tribunal sanction; creditors' and partners' payments need filed lists and approval. A distributable sum or return of assets in a winding up by tribunal may not be declared by the liquidator without the sanction of the Tribunal; payments to creditors require filing a list of creditors and Tribunal sanction, and payments to partners require filing the final settlement of the list of partners and Tribunal sanction.
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.
Declaration of distributable sum requires tribunal sanction; creditors' and partners' payments need filed lists and approval.
A distributable sum or return of assets in a winding up by tribunal may not be declared by the liquidator without the sanction of the Tribunal; payments to creditors require filing a list of creditors and Tribunal sanction, and payments to partners require filing the final settlement of the list of partners and Tribunal sanction.
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