California Corporations Code

§ 8516

CORP § 8516Div. 2 · Title 1 · Part 3 · Ch. 15

Statute text

When an involuntary proceeding for winding up has been commenced, the jurisdiction of the court includes:

(a)The requirement of the proof of all claims and demands against the corporation, whether due or not yet due, contingent, unliquidated or sounding only in damages, and the barring from participation of creditors and claimants failing to make and present claims and proof as required by any order.

(b)The determination or compromise of all claims of every nature against the corporation or any of its property, and the determination of the amount of money or assets required to be retained to pay or provide for the payment of claims.

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Legislative history

Added by Stats. 1978, Ch. 567.