← belizelaw.ai · Companies, Cap. 250 · PART VIII — Winding-up of Unregistered Companies
Contributories in winding-up of unregistered company
Cap. 250, s. 245 · Revised Edition 2020
(1) In the event of an unregistered company being wound- up, every person shall be deemed to be a contributory who is liable to pay or contribute to the payment of any debt or liability of the company, or to pay or contribute to the payment of any sum for the adjustment of the rights of the members among themselves, or to pay or contribute to the payment of the costs and expenses of winding-up the company, and every contributory shall be liable to contribute to the assets of the company all sums due from him in respect of any such liability as aforesaid.
(2) In the event of the death, bankruptcy, or insolvency, of any contributory, or marriage of any female contributory, this Act with respect to the personal representatives, and devisees of deceased contributories, to the trustees of bankrupt or insolvent contributories, and to the liabilities of husbands and wives respectively, shall apply.
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