THE HONGKONG GOVERNMENT GAZETTE, 8TH OCTOBER, 1864.
383
Power of Court to
by
Contri-
C. The Court may, at any time after making an Order for winding-up the Com- order payment of pany, make an Order on any Contributory for the time being settled on the List of Deuts Contributories, directing payment to be made, in Manner in the said Order mentioned, butory - of any Monies due from him or from the Estate of the Person whom he represents to the Company, exclusive of any Montes which he or the Estate of the Person whom he represents may be liable to contribute by virtue of any Call made or to be made by the Court in pursuance of this part of this Ordinance; and it may in making such Order, when the Company is not limited, allow to such Contributory by way of set-off any Monies due to him or the Estate which he represents from the Company on any inde- pendent dealing or Contract with the Company, but not any Monies due to him as a Member of the Company in respect of any dividend or profit:
Provided that when all the Creditors of any Company whether limited or unlimited are paid in fall, any Modes due on any Account whatever to any Contributory from the Company may be allowed to him by way of set-off against any subsequent Call or Calls.
CI. The Court may, at any time after making an Order for winding-up a Com- pany, and either before or after it has ascertained the Sufficiency of the Assets of the Company, make Calls on and Order payment thereof by all or any of the Contributories for the time being settled on the List of Contributeries, to the extent of their Liability, for payment of all or any Sams it deems necessary to satisfy the Debts and Liabilities of the Company, and the Costs, Charges, and Expenses, of winding it up, and for the Adjustment of the Rights of the Contributories amongst themselves, and it may, in making a Call, take into consideration the Probability that some of the Contributories upon whom the same is made may partly or wholly fail to pay their respective portions of the same.
Power of Courts to make Calls.
*
order payment into
Bauk,
CII. The Court may Order any Contributory, Purchaser, or other Person from Power of Court to whom Money is due to the Company to pay the same into some Banking Establishment in this Colony to be named by the Court or to the Account of the Official Liquidator instead of to the Official Liquidator, and such Order may be enforced in the same Man- ner as if it had directed payment to the Official Liquidator.
count with Court.
CHI. All Monies, Bills, Notes, and other Securities paid and delivered into such Regulation of Ae- Bank so to be named as aforesaid in the event of a Company being wound-up by the Court, shall be subject to such Order and Regulation for the keeping of the Account of such Monies and other Effects, and for the payment and delivery in, or investment and payment and delivery out of the same as the Court may direct.
Representative of a
CIV. If any Person made a Contributory as personal Representative of a deceased, Provision in ease of Contributory makes default in paying any Sam ordered to be paid by him, proceedings contributory not pay- may be taken for Administering the Personal and Real Estates of such deceased Con- ing Monies ordered. tributory, or either of such Estates, and of compelling payment thereout of the Monies.
Order conclusive
CV. Any Order made by the Court in pursuance of this Ordinance upon any Contributory shall, subject to the Provisions herein contained for appealing against evidence. such Order, be conclusive Evidence that the Monies, if any, thereby appearing to be due or ordered to be paid are due, and all other pertinent Matters stated in such Order are to be taken to be truly stated as against all Persons, and in all Proceedings whatsoever, with the exception of Proceedings taken against the Real Estate of any deceased Con- tributory, in which case such Order shall only be prima facie Evidence for the purpose of charging his Real Estate, unless his Heirs or Devisees were on the List of Contri- butories at the time of the Order being made.
CVI. The Court may fix a certain Day or certain Days on or within which Creditors of the Company are to prove their Debts or Clains, or to be excluded from the benefit of any Distribution made before such Debts are proved.
Court may exclude within certain time.
Creditors not proving
to
CVII. The Court shall adjust the Rights of the Contributories amongst themselves Court adjust and distribute any Surplus that may remain amongst the Partics cutitled thereto.
Rights of Contribu- tories.
CVIII. The Court may, in the event of the Assets being insufficient to satisfy the Court to order Costs. Liabilities, make an Order as to the payment out of the Estate of the Company of the Costs, Charges, and Expenses incurred in winding-up any Company in such Örder of priority as the Court thinks just.
pany.
CIX. When the Affairs of the Company have been completely wound-up, the Dissolution of Com- Court shall make an Order that the Company be dissolves from the dite of such Order, and the Company shall be dissolved accordingly.
No comments yet.
Private notes are available after approval.