CORPORATIONS ACT 2001 No. 50, 2001 - SECT 588S Creditor may give liquidator notice of intention to sue for
CORPORATIONS ACT 2001 No. 50, 2001 - SECT 588S
Creditor may give liquidator notice of intention to sue forAfter the end of 6 months beginning when a company begins to be wound up, a creditor of the company may give to the company's liquidator a written notice:
- (a)
- stating that the creditor intends to begin proceedings under section 588M in relation to the incurring by the company of a specified debt that is owed to the creditor; and
- (b)
- asking the liquidator to give to the creditor, within 3 months after receiving the notice:
- (i)
- a written consent to the creditor beginning the proceedings; or
- (ii)
- a written statement of the reasons why the liquidator thinks that proceedings under section 588M in relation to the incurring of that debt should not be begun.