Companies Act (Cap. 386), article 301

301. In every winding up of a company the assets of which are sufficient to meet the liabilities, all debts payable on a cont ingency, and all claims against the company, present or future, certain or contingent, ascertained or which may be due in damages, shall b e admissible as proof against the c ompany, a just estimate being made, so far as possible, of the value of such debts or claims as may be subject to any contingency or which are due in damages b ut not ascertained, or which for some other reason do not bear a certain value. Application of rules on ranking.