Definition of company and arrangement clarifies applicability and class treatment of unsecured creditors in winding-up context. Defines operative terms for sections 391 and 393: company means a company liable to be wound up; arrangement includes reorganisation of share capital by ... Summary
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Definition of company and arrangement clarifies applicability and class treatment of unsecured creditors in winding-up context.
Defines operative terms for sections 391 and 393: company means a company liable to be wound up; arrangement includes reorganisation of share capital by consolidation, division, or both; unsecured creditors with suits or decrees are deemed of the same class as other unsecured creditors.
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