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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Winding-up creditors' meetings: Rule 49 makes meeting convening and administration costs payable from company assets, not individuals</h1> Rule 49 prescribes that the costs of convening and conducting any meeting of creditors or contributories in a winding up are payable out of the company's assets. This allocates the financial burden of such meetings to the estate of the company in liquidation, ensuring that convening and administrative expenses are treated as expenses of the winding up rather than being borne personally by creditors, contributories, or the convenor.
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