5.6.47
CurrentAdmission of debt or claim without formal proof
Chapter 5External administration
Part 5.6Winding up generally
5.6.47 Admission of debt or claim without formal proof
(2)
If a liquidator admits a debt or claim without formal proof, it is not necessary for the liquidator formally to admit the debt or claim in writing.
(3)
If a creditor’s debt or claim has been admitted without formal proof, a notice of dividend is sufficient notice of the admission.
(4)
A liquidator must not reject a debt or claim without:
(a)
notifying the creditor of the grounds of the liquidator’s rejection; and
(b)
requiring that a formal proof of debt or claim be submitted for that debt or claim.
This Act’s bill:Explanatory statement
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