Will I receive payment for the debts owed by the company that has been wound up?
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.
Related questions
Who are the preferential creditors in the case of a corporate winding up scenario?
Do I have to repay my creditors before commencing the Debt Repayment Scheme ("DRS")?
How can I claim for outstanding salaries due from a company in liquidation? How do I file a proof of debt against a wound-up company?
What are the obligations of directors and corporate secretary of a wound-up company?
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