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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 286

Application of bankruptcy rules in winding up of insolvent companies.

286. In the winding up of an insolvent company the same rules shall prevail
and be observed with regard to the respective rights of secured and unsecured
creditors and to debts provable and to the valuation of annuities and furture
and contingent liabilities as are in force for the time being under the law of
bankruptcy with respect to the estates of persons adjudged bankrupt, and all
persons who in any such case would be entitled to prove for and receive
dividends out of the assets of the company may come in under the winding up
and make such claims against the company as they respectively are entitled to
by virtue of this section.[


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© 1960 Crown Copyright

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