Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.7B - RECOVERING PROPERTY OR COMPENSATION FOR THE BENEFIT OF CREDITORS OF INSOLVENT COMPANY  

Division 3 - Duties to prevent insolvent trading and creditor-defeating dispositions  

Subdivision B - Duties to prevent creditor-defeating dispositions  

SECTION 588GAA   588GAA   OBJECT OF THIS SUBDIVISION  


The object of this Subdivision is to deter the practice (which may form part of the activity sometimes called phoenixing) of disposing of a company ' s assets to avoid the company ' s obligations to its creditors.

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