Section 228 of the Property Law Act 1974 (Qld) (“PLA”) provides a powerful mechanism for insolvency practitioners (and others) to recovery and secure property improperly transferred where there is an intention of defeating creditors. This article…
Received an ASIC Notice? Know Your Rights!
ASIC’s power to conduct compulsory oral examinations is enlivened when ASIC, on reasonable grounds, believes that a person can give information that is relevant to a matter under formal investigation. The Australian Securities and Investments Commission…
Recent Changes to the Running Account Defence to an Unfair Preference Claim
The recent High Court decision in Bryant v Badenoch Integrated Logging Pty Ltd [2023] HCA 2 (“Bryant”) has abolished the ‘Peak Indebtedness Rule’ and significantly altered the application of the ‘Running Account’ Defence to unfair preference…
Statutory Demands – What You Need To Know!
In cases of insolvency, a company lacks the capacity to settle its debts promptly when they come due. During such circumstances, creditors of the insolvent company have several options to assert their rights, one of which…
Examination Powers under Section 81 of the Bankruptcy Act
The Bankruptcy Act 1966 (Cth) provides a comprehensive framework for the administration of bankruptcy in Australia. One of its key provisions, Section 81, grants the Court and the Registrar significant powers to summon individuals for examination…