BANKRUPTCY ACT 1966 - SECT 94 Subsequent realization of security
BANKRUPTCY ACT 1966 - SECT 94
Subsequent realization of security Where a secured creditor who has lodged a proof of debt in
respect of the balance due after deducting the estimated value of his or her
security subsequently realizes his or her security, or it is realized under
section 91, the net amount realized shall be substituted for the
estimated value of the security and section 93 applies as if the proof
of debt had been amended accordingly by the creditor under section 92.