Cost and expenses payable out of the assets in a winding-up by the Court.

Cost and expenses payable out of the assets in a winding-up by the Court. https://www.taxtmi.com/acts?id=14149 Application of company assets in a court winding-up follows a specified order of priority after payment of preservation expenses and subject to secured creditors and court orders: taxed petition costs, costs for preparing the statement of affairs, Official Liquidator disbursements (other than preservation expenses), costs of persons employed by the Official Liquidator, government fees, and sanctioned Committee of Inspection expenses. Advocate bills require Taxing Officer allowance and sanction for appointment to assist the liquidator; the rule does not affect costs ordered in separate proceedings. en-us Tue, 31 May 2011 16:14:30 +0530 Tue, 31 May 2011 16:14:30 +0530 TaxTMI RSS Generator Cost and expenses payable out of the assets in a winding-up by the Court. https://www.taxtmi.com/acts?id=14149 Application of company assets in a court winding-up follows a specified order of priority after payment of preservation expenses and subject to secured creditors and court orders: taxed petition costs, costs for preparing the statement of affairs, Official Liquidator disbursements (other than preservation expenses), costs of persons employed by the Official Liquidator, government fees, and sanctioned Committee of Inspection expenses. Advocate bills require Taxing Officer allowance and sanction for appointment to assist the liquidator; the rule does not affect costs ordered in separate proceedings. Act-Rules Companies Law Tue, 31 May 2011 16:14:30 +0530 https://www.taxtmi.com/acts?id=14149