CORPORATIONS ACT 2001 No. 50, 2001 - SECT 554G Amendment of valuation
CORPORATIONS ACT 2001 No. 50, 2001 - SECT 554G
Amendment of valuation(1) If a secured creditor's proof of debt is in respect of the balance due after deducting the creditor's estimate of the value of the security, the creditor may, at any time, apply to the liquidator or the Court for permission to amend the proof of debt by altering the estimated value. (2) If the liquidator or the Court is satisfied:
- the liquidator or the Court may permit the creditor to amend the proof of debt
accordingly.
(3) If the Court permits the creditor to amend the proof of debt, it may do so on such terms as it thinks just and equitable.