Section 655 CAMA 2020
Section 655 Companies and Allied Matters Act is about Debts of all descriptions may be proved. It is under Chapter 24 (Provisions applicable to every mode of winding-up) of the Act.
In every winding-up (subject, in the case of insolvent companies, to the application in accordance with the provisions of this Act of the law of bankruptcy), all debts payable on a contingency, and all claims against the company, present or future, certain or contingent, ascertained or sounding only in damages, shall be admissible to proof against the company, 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 sound only in damages, or for some other reasons do not bear a certain value.
