PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP (From Rule 179 to Rule 182)
Interest on overdue debts in a winding up may be claimed by creditors, subject to a six percent cap or Tribunal rate. Where no interest is agreed, a creditor may prove for interest on overdue debts as at the winding up date: from the time the debt is payable under a written instrument, or from the time a written demand (notifying that interest will be claimed) is made if payable otherwise; recoverable interest is subject to a ceiling of six per cent per annum or as determined by the Tribunal up to the winding up date.
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.
Interest on overdue debts in a winding up may be claimed by creditors, subject to a six percent cap or Tribunal rate.
Where no interest is agreed, a creditor may prove for interest on overdue debts as at the winding up date: from the time the debt is payable under a written instrument, or from the time a written demand (notifying that interest will be claimed) is made if payable otherwise; recoverable interest is subject to a ceiling of six per cent per annum or as determined by the Tribunal up to the winding up date.
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