Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.7B
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RECOVERING PROPERTY OR COMPENSATION FOR THE BENEFIT OF CREDITORS OF INSOLVENT COMPANY
Division 3
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Duties to prevent insolvent trading and creditor-defeating dispositions
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.
Subdivision B
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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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