Which of the following statements is correct?
I. Debts may be admitted by the liquidator without formal proof.
II. All creditors' claims are admissible to proof against the company in liquidation.
III. The size of any debts is calculated for the purpose of the winding up as at the day on which the winding up is taken to have begun.

Question

Quizplus · Accepted Answer

All three statements are correct in the context of liquidation. I. Liquidators can admit debts without formal proof in certain circumstances. II. All creditors' claims are generally admissible for proof against the company in liquidation. III. The size of debts is indeed calculated as at the day the winding up is considered to have started, to ensure fairness and accuracy in the distribution of the company's remaining assets.

Which of the Following Statements Is Correct