In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 8 · Winding Up
155. Claims of creditors and distribution of property
Feedback & support(1)
The Court may fix a date on or before which creditors are to prove their debts or claims, or after which those creditors are excluded from the benefit of any distribution made before those debts or claims are proved.
(2)
The Court must adjust the rights of the contributories among themselves and distribute any surplus among the persons entitled to the surplus.
(3)
The Court may, in the event the assets are insufficient to satisfy the liabilities, order the payment out of the assets of the costs, charges and expenses incurred in the winding up in such order of priority as the Court thinks fit.