357. Claims by unsecured creditors

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

A claim by an unsecured creditor against a company in a winding up shall be made in the prescribed form and shall —

(a)

contain full particulars of the claim; and

(b)

identify any documents that evidence or substantiate the claim.

(2)

The liquidator may—

(a)

require the production of a document referred to in paragraph (b) of subsection (1); and

(b)

require a claim to be verified by affidavit.

(3)

The liquidator shall as soon as practicable, either admit or reject a claim in whole or in part. If the liquidator subsequently considers that a claim has been wrongly admitted or rejected in whole or in part, he may revoke or amend that decision.

(4)

If a liquidator rejects a claim whether in whole or in part, he shall forthwith give notice in writting of the rejection to the creditor.

(5)

The costs of making a claim under subsection (1) or producing a document under subsection (2), shall be met by the creditor making the claim.

(6)

Every person who—

(a)

makes or authorises the making of a claim under this section that is false or misleading in a material particular knowing it to be false or misleading; or

(b)

omits or authorises the omission from a claim under this section, of any matter knowing that the omission makes the claim false or misleading in a material particular, shall be guilty of an offence and be liable on conviction to a fine not exceeding one million rupees or to imprisonment for a term not exceeding five years or to both such fine and imprisonment.

Read on from s 358

Part XIII