Section 239ACR — Companies Act 1993: Company's failure to execute deed

239ACR Company's failure to execute deed If the creditors at the watershed meeting have passed a resolution that the company execute a deed of company arrangement, and the company fails to do so within the deadline for execution, then, notwithstanding section 239E(2)(e) ,— (a) the administrator must apply for the appointment of a liquidator to the company; or (b) if the company is already in liquidation, the administrator must apply for the liquidation to resume. Section 239ACR: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).