In force2022 Revised EditionCurrent version · 2022 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Insolvency Act · 2022 Revised Edition · Chapter VIII
Insolvency Act · 2022 Revised Edition · Chapter VIII
Official textFrom Attorney General's Chambers, unchanged
In a winding up, interest is payable in accordance with this section on any debt proved in the winding up, including so much of any such debt as represents interest on the remainder.
Any surplus remaining after the payment of the debts proved in a winding up shall, before being applied for any other purpose, be applied in
Insolvency paying interest on those debts in respect of the periods during which they have been outstanding since the company went into liquidation.
insolvency
“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
All interest under this section ranks equally, whether or not the debts on which it is payable rank equally.
company
“company” means a company incorporated or registered under the Companies Act;
insolvency
“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
Part