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ASIC acts against unrelated Sydney directors for improper behaviour and mismanagement over more than a decade. ASIC has disqualified two Sydney directors with a total of 21 failed companies between t
For some time, the reliance on section 553C of the Corporations Act 2001 (Cth) (Act) as a "set-off" defence to an unfair preference claim, under section 588FA of the Act, has caused...
The Full Court, in Gavin Morton As Liquidator Of MJ Woodman Electrical Contractors Pty Ltd & Anor v Metal Manufacturers Pty Limited found that the defence of set-off is not available to a defendant of a liquidator's claim for the recovery of an unfair preference.