Commonwealth Consolidated Acts

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BANKRUPTCY ACT 1966 - SECT 108

Debts proved to rank equally except as otherwise provided

    Except as otherwise provided by this Act, all debts proved in a bankruptcy rank equally and, if the proceeds of the property of the bankrupt are insufficient to meet them in full, they shall be paid proportionately.

Note:   The rules under this Subdivision   for payments of debts can be affected by proceeds of crime orders and applications for proceeds of crime orders: see Subdivision   B.



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