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CORPORATIONS ACT 2001 - SECT 555 Debts and claims proved to rank equally except as otherwise provided

CORPORATIONS ACT 2001 - SECT 555

Debts and claims proved to rank equally except as otherwise provided

    Except as otherwise provided by this Act, all debts and claims proved in a winding up rank equally and, if the property of the company is insufficient to meet them in full, they must be paid proportionately.

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