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.
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