WebThe Commissioner's interpretation of s 588FA(1)(b) of the Act was subject to recent scrutiny in the Federal Court case of Kassem and Secatore v Commissioner of Taxation. 6 In that case, the liquidators of Mortlake Hire Pty Ltd (Mortlake) sought to recover two payments totalling $70,000 made on behalf of Mortlake in respect of Mortlake's ... WebApr 14, 2024 · A key focus of the High Court’s reasoning was the statutory context surrounding section 588FA(3). In short, the peak indebtedness rule cannot be applied given its inconsistency with other legislative requirements under Part 5.7B which sets out the claw-back regime for insolvent companies, which include:

Gunns: peak indebtedness is shot – Legal Developments

http://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s588fa.html WebJan 3, 2024 · 2. As a result and pursuant to section 588FA(3), all the transactions should be treated as a single transaction by calculating their net effect, in determining whether an unfair preference was given to it. On this basis, Gunn's indebtedness to Badenoch increased in the amount approximately $158,000 and therefore there was no unfair preference. royal stone houses goreme booking.com

No peaks in preference claims - CommBar Matters

WebThe Court identified that although Ormiston JA had stated in VR Dye that section 588FA should be construed in the same way as its predecessor (which statement was relied upon by the trial judge), this was subject to the express caveat “except to the extent that the language of s 588FA clearly points to a contrary conclusion.” 16 The Court ... WebFactor Factor Number; 1: one: 2: two: 3: three: 4: four: 6: six: 7: seven: 12: twelve: 14: fourteen: 21: twenty-one: 28: twenty-eight: 42: fourty-two: 49: fourty-nine ... WebFeb 8, 2024 · the first transaction that can form part of a “continuing business relationship” for the purposes of s 588FA (3) (a) of the Act is either the first transaction after the beginning of the prescribed period or the date of insolvency, whichever is later. royal stone industries