alleryStart learning →Under s. 323, winding-up costs and the liquidator's fee are paid how, subject to secured creditors?
AAfter all debts
BFrom calls only
CBefore other claims
DAfter taxes only
Answer & Solution
Correct answer: C. Before other claims
Section 323 makes them payable out of assets in priority to all other claims, subject to secured creditors.
Keep practising Winding Up
Browse all Winding Up questions for CA Final, or explore more Law topics.
Related questions
Under s. 361, summary liquidation suits a company with assets of book value up to what?If no voluntary resolution came first, a Tribunal winding up commences at what time?The Tribunal may declare a dissolution void within what period from dissolution under s. 3Unpaid dividends go to the Liquidation Dividend Account after remaining unpaid for how lonIf winding up is not concluded within what period, s. 348 requires yearly statements?Under s. 344, business letters of a company in liquidation must carry what?The minimum jail term for fraud by officers under s. 337 is what?After a Tribunal winding up begins, property dispositions are void unless the Tribunal doe