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.
View history note
Hide history noteThe 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.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.