Creditor may sue for compensation with liquidator’s consent
(1) A creditor of a company that is being wound up may, with the written consent of the company’s liquidator, begin proceedings under section 588M in relation to the incurring by the company of a debt that is owed to the creditor. (1A) If section 588M applies in relation to a company because of subsection 588M(1A), a creditor described in that subsection may begin proceedings under that section with the written consent of the company’s liquidator. (2) Subsections (1) and (1A) have effect despite section 588T, but subject to section 588U.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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