Section 553E — Corporations Act 2001 (Cth)

Subject to this Division, in the winding up of an insolvent company the same rules are to prevail and be observed with regard to debts provable as are in force for the time being under the Bankruptcy Act 1966 in relation to the estates of bankrupt persons (except the rules in sections 82 to 94 (inclusive) and 96 of that Act), and all persons who in any such case would be entitled to prove for and receive dividends out of the property of the company may come in under the winding up and make such claims against the company as they respectively are entitled to because of this section.

Related sections

• s 553B — Insolvent companies—penalties and fines not generally provable
• s 553C — Insolvent companies—mutual credit and set‑off
• s 553D — Debts or claims may be proved formally or informally
• s 554 — General rule—compute amount as at relevant date
• s 554A — Determination of value of debts and claims of uncertain value
• s 554B — Discounting of debts payable after relevant date

Research how courts apply s 553E

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.