(1) Where:

(a)

a corporation has contravened section 588V in relation to the incurring of a debt by a company; and

(b)

the person to whom the debt is owed has suffered loss or damage in relation to the debt because of the company's insolvency; and

(c)

the debt was wholly or partly unsecured when the loss or damage was suffered; and

(d)

the company is being wound up;