Debenture trustee to have
rights of debenture-holder
(1) If a
company raising debentures is liquidated or becomes insolvent for any
other
reasons, the debenture trustee shall make representation on behalf of the
debenture-holder.
(2) In the
event of necessity to institute a lawsuit on behalf of the debenture-holder for
the repayment of the principal and interest of such debenture-holder or
otherwise, the debenture trustee shall have the right to institute the lawsuit
on behalf of the debenture-holder.
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