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Insolvency Act · s 88
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Insolvency Act · s 88
Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.
Subject to the provisions of this Act as to preferential payments, the property of a company in a voluntary winding up shall, on the winding up be applied in satisfaction of the company’s liabilities pari passu and subject to such application, (unless the articles of the company otherwise provide) be distributed among the members according to their rights and interests in the company.