The Addition of Uncommercial Transactions to s 588G and its Implications for Phoenix Activities
Insolvency Law Journal, Vol. 10, Dec 2002
11 Pages Posted: 23 Sep 2010
Date Written: September 22, 2002
This article considers the recent addition of uncommercial transactions to the item list contained in s 588G as to when a debt is incurred for the purposes of determining a breach of the insolvent trading prohibition. It examines an hypothetical situation to determine if the statutory amendment will affect the general operation of both the s588G insolvent trading prohibition and the s588FB uncommercial transaction provision taking into account recent case decisions.
Keywords: bankruptcy, insolvency, uncommercial transactions, s 588G, Australia, Corporations Act, insolvent trading prohibition
JEL Classification: K22
Suggested Citation: Suggested Citation