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Article 20 Proof of debts

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This rule applies in the case of a company carrying on long-term business.

(2)

The liquidator may in relation to the company’s long-term business and to its other business fix different days on or before which the creditors of the company who are required to prove their debts or claims are to prove their debts or claims and he may fix one of those days without at the same time fixing the other.

(3)

In submitting a proof of any debt a creditor may claim the whole or any part of such debt as attributable to the company’s long-term business or to its other business or he may make no such attribution.

(4)

When he admits any debt, in whole or in part, the liquidator shall state in writing how much of what he admits is attributable to the company’s long-tem business and how much to the company’s other business.