Section 288 — Companies Act 1993: Evidence and other matters

288 Evidence and other matters (1) On an application to the Court for an order that a company be put into liquidation, evidence of failure to comply with a statutory demand is not admissible as evidence that a company is unable to pay its debts unless the application is made within 30 working days after the last date for compliance with the demand. (2) Section 287 of this Act does not prevent proof by other means that a company is unable to pay its debts. (3) Information or records acquired under section 178 of this Act or, if the Court so orders, under section 179 of this Act, may be received as evidence that a company is unable to pay its debts. (4) In determining whether a company is unable to pay its debts, its contingent or prospective liabilities may be taken into account. (5) An application to the Court for an order that a company be put into liquidation on the ground that it is unable to pay its debts may be made by a contingent or prospective creditor only with the leave of the Court; and the Court may give such leave, with or without conditions, only if it is satisfied that a prima facie case has been made out that the company is unable to pay its debts.