https://www.taxtmi.com/caselaws?id=96936 A loan advanced specifically to meet costs and expenses of winding up is treated as a preferential claim where a reconstruction scheme mandates payment of liquidation costs in the first instance, and a scheme clause vesting final determination in the liquidator renders that award determinative; accordingly the plaintiff's advance is preferential. Separately, a contractual claim for remuneration was rejected because quantum meruit was neither pleaded nor pursued and the factual finding denied any authority or contract to pay; therefore the remuneration claim fails and is disallowed. en-us Tue, 25 Jun 1946 00:00:00 +0530 Fri, 13 Jan 2012 12:28:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96936 A loan advanced specifically to meet costs and expenses of winding up is treated as a preferential claim where a reconstruction scheme mandates payment of liquidation costs in the first instance, and a scheme clause vesting final determination in the liquidator renders that award determinative; accordingly the plaintiff's advance is preferential. Separately, a contractual claim for remuneration was rejected because quantum meruit was neither pleaded nor pursued and the factual finding denied any authority or contract to pay; therefore the remuneration claim fails and is disallowed. Case-Laws Companies Law Tue, 25 Jun 1946 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96936