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Claiming a Pound of Flesh as a Contingent or Prospective Creditor Under the Companies Act

43 Pages Posted: 26 Feb 2007  

Beng Tat Lee

Cambridge Associates Asia Pte Ltd

Abstract

This article examines the concepts of a "contingent" creditor and a "prospective" creditor in the Companies Act and the Companies (Winding Up) Rules 1969 in the light of existing case authority. In the process it attempts to define the outer boundaries of these concepts. Some practical considerations and problems in making a claim against a company as a contingent or prospective creditor are also examined. Particular attention is paid to the problem of proving non-contractual claims for unliquidated damages in the winding up of an insolvent company.

Suggested Citation

Lee, Beng Tat, Claiming a Pound of Flesh as a Contingent or Prospective Creditor Under the Companies Act. Singapore Journal of Legal Studies, pp. 144-186, 1993 . Available at SSRN: https://ssrn.com/abstract=965259

Beng Tat Lee (Contact Author)

Cambridge Associates Asia Pte Ltd ( email )

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