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2. Due to the inability to settle its enormous debts, Paris Holdings Berhad had been brought into dissolution in accordance with Section 456(1)(e) of the
2. Due to the inability to settle its enormous debts, Paris Holdings Berhad had been brought into dissolution in accordance with Section 456(1)(e) of the Companies Act 2016. Allen, then been appointed as a liquidator acted for the said company in a compulsory winding-up by the Court. In discharging one of his main duties, he needs to ensure that the company's properties are collected and used to discharge company's liabilities. After the Companies Winding-Up Order was obtained, Allen had first settled the creditor's claim prior to the legal disputes, dividends to creditors, federal taxes and company contracts without knowing any of their purposes and right ranking of distribution. Advise Allen accordingly
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