OpenLegislation

Article 26 Apportionment of costs payable out of the assetsI1

Northern Ireland

(1)

Where no stop order has been made in relation to a company, Rule 4.228 of the principal Rules (general rule as to priority) applies separately to the assets of the company’s long-term business and to the assets of the company’s other business.

(2)

But where any fee, expense, cost, charge, disbursement or remuneration does not relate exclusively to the assets of the company’s long-term business or to the assets of the company’s other business, the liquidator shall apportion it amongst those assets in such manner as he shall determine.

Annotations

Commencement

I1

Art. 26 in operation at 19.9.2005, see art. 1(1)