(1)Where the proposed reduction of share capital involves, either diminution of liability in respect "1 unpaid snare capital, or the payment to any shareholder of any paid-up share capital, and in any other case if the Court so directs, every creditor of the company who at the date fixed by the Court is entitled to any debt or claim which, if that date were the commencement of the winding up of the company, would 1. "- admissible in proof against the company, shall ' c entitled to object to the reduction.
