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Companies Act 1993

Liquidations - Creditors' claims

307: Claim not of an ascertained amount

You could also call this:

“How to handle claims without a fixed amount in company liquidation”

If you make a claim that doesn’t have a set amount, the liquidator can handle it in two ways. They can guess how much your claim is worth, or they can ask the court to decide. This might happen if your claim depends on something that hasn’t happened yet, if you’re asking for money for damages, or if the amount isn’t clear for some other reason.

If you don’t agree with the liquidator’s guess about how much your claim is worth, you can ask the court to step in. The liquidator can also ask the court to make this decision. When the court gets involved, they will decide how much the claim is worth in the way they think is best.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM322333.

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Part 16 Liquidations
Creditors' claims

307Claim not of an ascertained amount

  1. If a claim is subject to a contingency, or is for damages, or, if for some other reason, the amount of the claim is not certain, the liquidator may—

  2. make an estimate of the amount of the claim; or
    1. refer the matter to the court for a decision on the amount of the claim.

      1. On the application of the liquidator, or of a claimant who is aggrieved by an estimate made by the liquidator, the court shall determine the amount of the claim as it sees fit.