CORPORATIONS ACT 2001 - SECT 444E Protection of company's property from persons bound by deed

CORPORATIONS ACT 2001 - SECT 444E

  (1)   Until a deed of company arrangement terminates, this section applies to a person bound by the deed.

  (2)   The person cannot:

  (a)   make an application for an order to wind up the company; or

  (b)   proceed with such an application made before the deed became binding on the person.

  (3)   The person cannot:

  (a)   begin or proceed with a proceeding against the company or in relation to any of its property; or

  (b)   begin or proceed with enforcement process in relation to property of the company;

except:

  (c)   with the leave of the Court; and

  (d)   in accordance with such terms (if any) as the Court imposes.

  (4)   In subsection   (3):

"property" of a company includes:

  (a)   any PPSA retention of title property of the company; and

  (b)   any other property used or occupied by, or in the possession of, the company.

Note:   See sections   9 (definition of property ) and 51F (PPSA retention of title property).