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Secured Creditor Rights Unaffected by Director's Deed in Winding-Up; Workmen's Claims Retain Pari Passu Charge Rights.

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Full Text of the Document

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....Sale after winding up - Deed of Assignment executed by exdirector - rights of secured creditor - The mere fact that the Official Liquidator has not yet adjudicated the claims of workmen would not disentitle them to a pari passu charge or leave a secured creditor free to deal with a security as he chooses. - HC....

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