Revised Laws of Saint Lucia (2021)

478.   Power of court to assess damages against delinquent directors, etc

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    (1)   If in the course of winding-up a company it appears that any person who has taken part in the formation or promotion of the company, or any past or present officer or liquidator of the company, has misapplied or retained or become liable or accountable for any money or property of the company or been guilty of any misfeasance or breach of trust in relation to the company, the court may, on the application of the Official Receiver or of the liquidator, or of any creditor or contributory, examine into the conduct of the promoter, liquidator or officer, and compel him or her to repay or restore the money or property or any part thereof respectively with interest at such rate as the court thinks just, or to contribute such sum to the assets of the company by way of compensation in respect of the misapplication, retainer, misfeasance or breach of trust as the court thinks just.

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    (2)   The provisions of this section have effect although the offence is one for which the offender may be criminally liable.

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    (3)   Where in the case of a winding-up an order for payment of money is made under this section, the order is deemed to be a final judgment within the meaning of Title IX of the Commercial Code.