Section 559 — Corporations Act 2001 (Cth)

The debts of a class referred to in each of the paragraphs of subsection 556(1) rank equally between themselves and must be paid in full, unless the property of the company is insufficient to meet them, in which case they must be paid proportionately.

Related sections

• s 555 — Debts and claims proved to rank equally except as otherwise provided
• s 556 — Priority payments
• s 558 — Debts due to employees
• s 560 — Advances for company to make priority payments in relation to employees
• s 561 — Priority of employees’ claims over circulating security interests
• s 562 — Application of proceeds of contracts of insurance

Research how courts apply s 559

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