https://www.taxtmi.com/caselaws?id=97326 Company articles may forfeit earlier dividends and exclude interest on unpaid dividends, preventing a contributory from asserting those amounts in a winding up. Dividends or profits due to members do not rank as debts competing with creditors; contributories may claim only any surplus remaining after creditors are paid. The statutory protection for creditors does not create a right to set off dividends or interest against contributory calls. An executor or administrator representing a deceased member's estate therefore remains liable as a contributory despite alleged unpaid dividends. en-us Thu, 07 Apr 1955 00:00:00 +0530 Mon, 16 Jan 2012 12:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97326 Company articles may forfeit earlier dividends and exclude interest on unpaid dividends, preventing a contributory from asserting those amounts in a winding up. Dividends or profits due to members do not rank as debts competing with creditors; contributories may claim only any surplus remaining after creditors are paid. The statutory protection for creditors does not create a right to set off dividends or interest against contributory calls. An executor or administrator representing a deceased member's estate therefore remains liable as a contributory despite alleged unpaid dividends. Case-Laws Companies Law Thu, 07 Apr 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97326