Preferential Payments

When a company goes into liquidation, it is the obligation of its liquidators to inspect the financial records of the company. They have the right to investigate payments made by the company and to determine whether any of these payments are unlawful or otherwise unauthorised. An example of an unlawful payment is where the payment is a “voidable transaction” under the Corporations Act.

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Would you risk your Lamborghini

We are gradually seeing more cases coming through regarding the PPSA (Personal Property Securities Act). A recent case that was handed down in September, Auto Moto Corporation Pty Ltd v SMP Solutions Pty Ltd [NSW] 1403 (19 September 2013), involved a document that may have given a security interest over a Lamborghini Aventador. Personally, I

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Insolvency Risks

We have found over the past few months many of our clients are contacting us to discuss insolvency. This comes as no surprise, given the rate at which insolvencies are being reported. For example, an article recently published in the Sydney Morning Herald referred to statistics that identified 363 companies from within the building industry

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