Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1244

1244. (1) Where, in proceedings brought to establish a claim, the Court is
satisfied that there was a defalcation or fraudulent misuse of property on
which to found the claim and that otherwise the claimant has a valid claim,
the Court shall, by order:

   (a)  declare the fact and the date of the defalcation or fraudulent misuse
        of property and the amount of the claim; and

   (b)  direct the board to allow the claim as so declared and deal with it in
        accordance with the provisions of this Part.

(2) In any such proceedings all questions of costs are in the discretion of
the Court.