Insolvency Team discusses first decision under new Anti-Phoenixing section in Australian Restructuring Insolvency & Turnaround Association (ARITA) Journal
Madgwicks Lawyers team Angelo Conti, Lisa McNicholas and Alexandra Lawrence appear as contributing authors in an article featured in this month's ARITA Journal discussing the creditor-defeating disposition test case from earlier this year.
"The story of a director who, mere moments before the commencement of a shareholders meeting, signed a business sale agreement purporting to sell the entire business in liquidation to her sister’s newly incorporated company."
The decision in Intellicomms provides a timely warning for advisors encouraging a creditor-defeating disposition, and directors considering a sale process before liquidation. Do not hesitate to get in touch if you would like to discuss your own situation with regard to legal advice surrounding liquidation and administration matters.
Access to the article is reserved exclusively for ARITA Members and Subscribers. Login to the ARITA Technical Library to access the digital Journal.
