Interest claims in winding-up proceedings may be decided by the company judge when principal debt is admitted and paid.

Where the company admits and pays the principal debt in winding-up proceedings, the company judge may determine the creditor's claim for interest within the same proceedings. The creditor need not be driven to a separate forum merely to recover the interest component already found payable. On the facts noted, the principal liability had been accepted and paid, and the company was ready to pay costs, so the court treated the company judge as the proper forum to direct payment of interest. The order was modified accordingly and the appeal succeeded.

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Issues: Whether, in winding-up proceedings where the company has admitted and paid the principal debt, the company judge can determine the creditor's claim for interest and whether the creditor can be compelled to pursue a separate proceeding for that interest.

Analysis: The admitted principal liability had already been paid, and the company had also indicated readiness to pay costs. The Court held that once liability for the principal sum stood accepted, the creditor should not be driven to another forum for recovery of the interest component already found payable in the winding-up proceedings. The company judge, being the appropriate forum in the circumstances, could determine and direct payment of the interest as part of the same proceedings.

Conclusion: The claim for interest was maintainable before the company judge in the winding-up matter, and the appellant could not be relegated to a separate forum.

Final Conclusion: The order under appeal was modified so that the respondents were directed to pay the interest component earlier awarded, and the appeal succeeded.

Ratio Decidendi: Where the company admits and pays the principal debt, the creditor's claim for interest may be determined in the winding-up proceedings by the company judge, and a separate proceeding for that interest need not be insisted upon.

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