Section 587 — Corporations Act 2001 (Cth)

(1) The provisions of this Act with respect to staying and restraining actions and other civil proceedings against a company at any time after the filing of an application for winding up and before the making of a winding up order extend, in the case of a Part 5.7 body where the application to stay or restrain is by a creditor, to actions and other civil proceedings against a contributory of the Part 5.7 body.

(2) Where an order has been made for winding up a Part 5.7 body, no action or other civil proceeding is to be proceeded with or commenced against a contributory of the Part 5.7 body in respect of a debt of the Part 5.7 body except by leave of the Court and subject to such terms as the Court imposes.

Related sections

• s 583 — Winding up Part 5.7 bodies
• s 585 — Insolvency of Part 5.7 body
• s 586 — Contributories in winding up of Part 5.7 body
• s 588 — Outstanding property of defunct registrable body
• s 588C — Meaning of property
• s 588D — Secured debt may become unsecured

Research how courts apply s 587

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