Statute
Section 108 — Bankruptcy Act 1966: Debts proved to rank equally except as otherwise provided
Text of the provision Official document
Except as otherwise provided by this Act, all debts proved in a bankruptcy rank equally and, if the proceeds of the property of the bankrupt are insufficient to meet them in full, they shall be paid proportionately. Note: The rules under this Subdivision for payments of debts can be affected by proceeds of crime orders and applications for proceeds of crime orders: see Subdivision B.
Official source: Federal Register of Legislation
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