Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 587

Power of Court to stay or restrain proceedings

  (1)   The provisions of this Act with respect to staying and restraining actions and other civil proceedings against a company at any time after the filing of an application for winding up and before the making of a winding up order extend, in the case of a Part   5.7 body where the application to stay or restrain is by a creditor, to actions and other civil proceedings against a contributory of the Part   5.7 body.

  (2)   Where an order has been made for winding up a Part   5.7 body, no action or other civil proceeding is to be proceeded with or commenced against a contributory of the Part   5.7 body in respect of a debt of the Part   5.7 body except by leave of the Court and subject to such terms as the Court imposes.


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