Author: Laura Mills

The Full Court of the Federal Court confirms that a statutory set-off under s 553C(1) of the Corporations Act 2001 (Cth) is not available against a liquidator’s claim for the recovery of an unfair preference under s 588FA of the Act.

The High Court has unanimously held that property held by a bankrupt on trust for third parties in which property the bankrupt had a beneficial interest vested in the trustee in bankruptcy.