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Will I receive payment for the debts owed by the company that has been wound up?

Updated by MLAW

The debts of the company are prioritised according to the law and will be paid in the following sequence:

1. Costs associated with the winding up proceedings and liquidation expenses.
2. Debts owed to preferential creditors, such as employees, CPF Board, and IRAS.
3. Admitted claims of unsecured creditors.
4. Distribution to shareholders from the remaining assets, if any.

Topics:

Insolvency OfficeCorporate Insolvency

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