COVID-19 Update

Chloe Moorfoot

Preference claims are past their peak – The Full Federal Court affirms the abolition of the “peak indebtedness” rule

On 10 May 2021, the Full Federal Court of Australia handed down its decision in Badenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers appointed) [2021] FCAFC 64 (Badenoch v Bryant). The Full Court affirmed the abolition of the “peak indebtedness” rule with the Court preferring … Read More

Resigning or removing company directors – no more backdating!

In February 2020, the Treasury Laws Amendment (Combatting Illegal Phoenixing) Act 2020 (Cth) (the Act) was passed to assist the regulator and liquidators to combat illegal phoenix activity. Illegal phoenix activity includes the creation of a new company to continue the business of an existing company that has been deliberately liquidated to avoid paying outstanding … Read More

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