RECOVERING PROPERTY OR COMPENSATION FOR THE BENEFIT OF CREDITORS OF INSOLVENT COMPANY
Director liable to compensate company
Proceedings by creditor
SECTION 588RCREDITOR MAY SUE FOR COMPENSATION WITH LIQUIDATOR'S CONSENT
Creditor needs liquidator's consent]
A creditor of a company that is being wound up may, with the written consent of the company's liquidator, begin proceedings under section 588M in relation to the incurring by the company of a debt that is owed to the creditor.
Paramountcy and limitation]
Subsection (1) has effect despite section 588T, but subject to section 588U.