Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 456L

Lien to secure indemnity

  (1)   To secure a right of indemnity under section   456J, the restructuring practitioner has a lien on the company's property.

  (2)   A lien under subsection   (1) has priority over another security interest only in so far as the right of indemnity under section   456J has priority over debts secured by the other security interest.


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