311. Costs

Question 1

311. Costs

Answer 1

General overview
[311.01] Section 311 provides that all proper costs, charges and expenses of and incidental to the winding up including the remuneration of the liquidator shall be payable out of the assets of the company ahead of other claims.Generally speaking, all costs and expenses properly incurred by the liquidator for the furtherance of the winding up of the company will be accorded priority and paid out of the company’s assets ahead of other claims.See s 267 in respect of costs and expenses incurred by the provisional liquidator. In respect of a liquidator’s remuneration, the same principles that are applied under s 268 apply equally to a liquidator’s remuneration in a voluntary winding up.