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Abolition of the Peak Indebtedness Doctrine for Preference Claims?

The Full Court of the Federal Court recently delivered its judgment in the matter of Badenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers appointed) [2021] FCAFC 64.

The decision will undoubtedly have significant implications for the ongoing application of the peak indebtedness rule by creditors and liquidators.  


Corporations (Coronavirus Economic Response) Determination (No. 1) 2020

At the beginning of May, the Federal Treasurer issued a determination which modifies the operation of the Corporations Act 2001 (Cth) with respect to company meetings and the execution of documents by companies.

In order to mitigate the impact of COVID-19 on Australian companies, the Corporations (Coronavirus Economic Response) Determination (No. 1) 2020 ('the Determination') came into effect on 6 May 2020, and applies on a temporary basis until 6 November 2020.  


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