Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.5
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VOLUNTARY WINDING UP
Division 3
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Creditors
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voluntary winding up
Subdivision B
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Simplified liquidation process for creditors
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voluntary winding up of an insolvent company
For the purposes of paragraph 500A(2)(c) : (a) the value of the creditors at a particular time is to be worked out by reference to the value of the creditors ' claims against the company that are known at that time; and (b) the regulations may prescribe creditors that are, or are not, to be taken into account.
SECTION 500AD
500AD
WORKING OUT WHETHER THE 25% IN VALUE OF CREDITORS TEST MET
For the purposes of paragraph 500A(2)(c) : (a) the value of the creditors at a particular time is to be worked out by reference to the value of the creditors ' claims against the company that are known at that time; and (b) the regulations may prescribe creditors that are, or are not, to be taken into account.
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