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Liquidations on company There are several situations that might arise due to the contributory claims 1. Insufficient funds for creditors 2.Sufficient funds to pay creditors,

Liquidations on company

There are several situations that might arise due to the contributory claims

1. Insufficient funds for creditors

2.Sufficient funds to pay creditors, but not to repay share capital

3. Surplus funds exist over creditors claims and share capital

Please explain and elaborate on the above mentioned (Why and how?)

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