Section 239ADE — Companies Act 1993: Termination by creditors

239ADE Termination by creditors (1) The creditors, by a resolution passed at a meeting convened under section 239ADF , may terminate the deed if there has occurred a material breach of the deed that has not been rectified. (2) The creditors may also appoint a liquidator if the notice of the meeting sets out a proposed resolution that a liquidator be appointed to the company. Compare: Corporations Act 2001 (Australia) s 445E Section 239ADE: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).