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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 588U
Events preventing creditor from suing
(1) A creditor of a company that is being wound up cannot begin proceedings
under section 588M in relation to the incurring of a debt by the company
- the company's liquidator has applied under section 588FF in
relation to the debt, or in relation to a transaction under which the debt was
- the company's liquidator has begun proceedings under section 588M in
relation to the incurring of the debt; or
- the company's liquidator has intervened in an application for a civil
penalty order against a person in relation to a contravention of subsection
588G(2) in relation to the incurring of the debt.
(2) Subsection (1) has effect despite sections 588R and 588T.
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