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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.7B - RECOVERING PROPERTY OR COMPENSATION FOR THE BENEFIT OF CREDITORS OF INSOLVENT COMPANY  

Division 4 - Director liable to compensate company  

Subdivision A - Proceedings against director  

SECTION 588N  

588N  AVOIDING DOUBLE RECOVERY  

An amount recovered in proceedings under section 588M in relation to the incurring of a debt by a company is to be taken into account in working out the amount (if any) recoverable in:


(a) any other proceedings under that section in relation to the incurring of the debt; and


(b) proceedings under section 596AC in relation to a contravention of section 596AB that is linked to the incurring of the debt.

[CCH Note: There is no section 588O.]


 



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