Winding-up and Restructuring Act (R.S.C., 1985, c. W-11)

Marginal note:Payment by contributory

58. A court may, at any time after making a winding-up order, make an order on any contributory for the time being settled on the list of contributories, directing payment to be made, in the manner mentioned in the order, of any moneys due from him or from the estate of the person whom he represents to the company, exclusive of any moneys that he or the estate of the person whom he represents is liable to contribute by virtue of any call made in pursuance of this Act.

Marginal note:Calls on contributories

59. A court may, at any time after making a winding-up order, and either before or after it has ascertained the sufficiency of the assets of the company, make calls on and order payment thereof by all or any of the contributories for the time being settled on the list of contributories, to the extent of their liability, for payment of all or any sums it deems necessary to satisfy the debts and liabilities of the company, for the costs, charges and expenses of winding-up and for the adjustment of the rights of the contributories among themselves.

Marginal note:Consideration of possible failure to pay

• 60. (1) A court may, in making a call, take into consideration the probability that some of the contributories on whom the call is made may partly or wholly fail to pay their respective portions of the call.

• Marginal note:Maturity of debt

  (2) No call compels payment of a debt before the maturity thereof and the extent of the liability of any contributory is not increased by anything in this section.

Marginal note:Order for payment

• 61. (1) A court may order any contributory, purchaser or other person from whom money is due to the company to pay the money into a bank or Government savings bank, to the account of the court instead of the liquidator.

• Marginal note:Enforcement

  (2) An order under subsection (1) may be enforced in the same manner as if it had directed payment to the liquidator.

Marginal note:Rights of contributories

62. The court shall adjust the rights of the contributories among themselves.

Marginal note:Meetings

63. A court may, if it thinks expedient, direct meetings of the creditors, contributories, shareholders or members of a company to be summoned, held and conducted in such manner as the court directs, for the purpose of ascertaining their wishes, and may appoint a person to act as chairman of any of those meetings, and to report the result of those meetings to the court.