Section 239ADM — Companies Act 1993: Administrator's right of indemnity has priority over other debts

239ADM Administrator's right of indemnity has priority over other debts Subject to section 312 , the administrator's right of indemnity under this subpart has priority over— (a) all the company's unsecured debts; and (b) debts of the company secured by a charge of the kind described in clause 2(1)(b) of Schedule 7. Compare: Corporations Act 2001 (Australia) s 443E Section 239ADM: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).