In this article we explain when a transaction might be voidable under that section, how these transactions differ from another type of voidable transaction, uncommercial transactions, and how liquidators pursue claims under this section.
Liquidators have a set of powers under the Corporations Act 2001 (Cth) (the Act) known as ‘voidable transactions’ (sometimes also known as ‘avoidance provisions’), which allow the liquidator to ‘claw back’ certain transactions in the case of an insolvent winding-up.
Wage theft is the underpayment of employees. Wage theft can occur in a number of ways, for example underpaying wages, not granting entitlements or refusing to pay penalty rates, superannuation, overtime or commissions.
An important part of the personal bankruptcy process in Australia is the ability of those overseeing the process to ‘examine’ the individual undergoing bankruptcy or any other relevant person. This is the ability to question that person or those persons, under oath, about their financial affairs, fraud or involvement with the bankrupt. This power is contained within section 77C of the Bankruptcy Act 1966 (Cth) and is sometimes known as a ‘private examination’.
What effect do the changes to commercial tenancy arrangements brought in to combat the financial impact of COVID-19 have on SMEs?
This article will consider the right of employers to temporarily stand down staff because of the COVID-19 pandemic.
The existing policy-settings for insolvency law need some serious alteration. The threat of ‘terminators’ means too often directors are subject to the ‘stick’ of the law. A better system would provide positive incentives, ‘carrots’, for directors and their accountants and lawyers, to turn companies around.
On Friday 18 October 2019 our firm hosted a charity fundraiser for Cure Cancer Australia at Sokyo Restaurant at the Star. The cost of the event was entirely subsidised by the firm, so all monies raised by donations and our…
Directors need to be aware that having the ‘best of intentions’ will often not be enough to avoid liability for a breach of the duty under the new penalties.
Ben Sewell of Sewell & Kettle Lawyers contributes to research for a landmark study of Voluntary Administration in Australia – the most significant research project to date Professor Jason Harris of Sydney University Law School is the only academic to…
Sewell & Kettle were very fortunate last week to be invited by Cure Cancer and The Can Too Foundation to participate in a tour of their cancer research lab at the University of New South Wales. Sewell & Kettle is…
Garnishee notices are designed as a last resort strategy in cases involving significant tax debts and uncooperative debtors and should be taken very seriously. They can be embarrassing, or even damaging, as they drag third parties into your personal financial affairs.