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Set-off shield to unfair preference claims dropped

Last Thursday (16 December 2021), in the decision of Morton as Liquidator of MJ Woodman Electrical Contractors Pty Ltd v Metal Manufacturers Pty Limited [2021] FCAFC 228 (MJ Woodman), the Full Court of the Federal Court delivered a highly anticipated decision surrounding section 553C of the Corporations Act 2001 (Cth) (Act) and a liquidator’s unfair preference claim.
  • 24 Dec 2021

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‘OPEN SESAME’, SAYS THE COURT

It is not uncommon for secured creditors to rely on a contractual right to enter a premises for the purposes of seizing collateral, including under a retention of title clause. However, the Supreme Court’s decision is a reminder for secured creditors to consider whether their contractual rights are in compliance with section 123 of the PPS Act and adequately protect them against any grantors’ claims in trespass.
  • 20 Jan 2020

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