Companies Act 2014 section 659

Payment of debts due by contributory to the company and extent to which set-off allowed

Section 659 deals with the court's power to order contributories to pay debts they owe to the company during a winding up, and explains when a contributory may set off amounts the company owes them against future calls.

• The court can order any person on the list of contributories to pay money they owe to the company, with the payment method specified in the order.
• This applies to debts owed personally by the contributory or by the estate of the person they represent, but excludes amounts due under any call made under the Act.
• Once all creditors have been paid in full, a contributory may offset any money the company owes them against any subsequent call for payment.
• The provision applies to both court-ordered and voluntary windings-up.