Commentary

56 Remedies with the aid of the court

COMPANIES vol 10(2) borrowing and debentures
| Commentary

56 Remedies with the aid of the court

| Commentary

56 Remedies with the aid of the court

The most common mode of proceedings through the court is an action by one or more debenture1 holders on behalf of the rest to realise the security. In the case where there is a debenture trust deed2, the trustees will take the action. Winding up of the company is not normally an obstacle to such an action. Although no action or proceeding may be proceeded with or commenced by either secured or unsecured creditors against a company in compulsory liquidation or its property, except by leave of the court

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