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Director liability for uncommercial transactions : is s 588G(1A) impotent to provide liquidators the means to seek compensation for creditors?

Wellard, Mark Norman (2012) Director liability for uncommercial transactions : is s 588G(1A) impotent to provide liquidators the means to seek compensation for creditors? Insolvency Law Bulletin, 13(2), pp. 37-41.

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    Abstract

    In the 10 years since the addition of uncommercial transactions to the table of deemed “debts incurred” in s 588G(1A) of the Corporations Act, the sub-section has arguably achieved little. This article explains why this has been so, and what needs to be done to enable this aspect of Australia’s insolvent trading laws to operate effectively and as originally intended.

    Impact and interest:

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    ID Code: 53672
    Item Type: Journal Article
    Keywords: insolvent trading, uncommercial transactions, director, debts incurred, s 588G(1A)
    ISSN: 1443-9662
    Subjects: Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Corporations and Associations Law (180109)
    Divisions: Current > QUT Faculties and Divisions > Faculty of Law
    Current > Schools > School of Law
    Copyright Owner: Copyright 2012 LexisNexis Butterworths
    Deposited On: 18 Sep 2012 09:42
    Last Modified: 19 Sep 2012 22:39

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