Section 260: Costs of compromise
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
260. Costs of compromise
Unless the Court orders otherwise, the costs incurred in organising and
conducting a meeting of creditors for the purpose of voting on a proposed
compromise—
(a) shall be met by the company;
(b) where incurred by a receiver or liquidator, are a cost of the receivership or liquidation; or
(c) where incurred by any other person, are a debt due to that person by the company and, where the company is put into liquidation, are payable in the order of priority required in the
liquidation.
PART XVIII – APPROVAL OF ARRANGEMENTS, AMALGAMATIONS
AND COMPROMISES BY COURT
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Questions this section answers
- Who pays the costs of holding a creditors' meeting to vote on a compromise?