Uncalled capital collection: liquidator may call unpaid contributions and hold proceeds subject to existing security rights. The liquidator may realise any amount due from a contributory, including calls on uncalled capital and arrears, by issuing a notice requiring payment within fifteen days; realised moneys are held subject to rights of any charge holder. No distribution shall be made to a contributory until he makes his required contribution to the uncalled or unpaid capital as per the corporate debtor's constitutional documents.
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.
Uncalled capital collection: liquidator may call unpaid contributions and hold proceeds subject to existing security rights.
The liquidator may realise any amount due from a contributory, including calls on uncalled capital and arrears, by issuing a notice requiring payment within fifteen days; realised moneys are held subject to rights of any charge holder. No distribution shall be made to a contributory until he makes his required contribution to the uncalled or unpaid capital as per the corporate debtor's constitutional documents.
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