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Phoenixing amendments take effect

The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (Cth) received Royal Assent on 17 February 2020. A number of important measures targeted at ‘phoenix activity’ have now taken effect, including the duty imposed on company officers to prevent ‘creditor-defeating dispositions’.

Premature Statutory Payment Claims

The Supreme Court of Victoria has held that payment claims under the Building and Construction Industry Security of Payment Act 2002 (Vic) served before a “reference date” are invalid, notwithstanding a contractual deeming provision to the contrary.