Voidable Transactions

Orders in after first win for anti-phoenixing laws

PKF partner Glenn Franklin. PKF partner Petr Vrsecky. Following their historic win in the Supreme Court of Victoria last month, two PKF Melbourne partners have secured orders in respect of the court’s finding that a business sale agreement constituted a creditor-defeating disposition and an illegal phoenix transaction within the meanings of ss 588FDB and 588FE(6B) of the Corporations Act 2001. As many iNO readers will…

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Ex-Deloitte partner quizzed over Last Lap restructure

Cor Cordis Melbourne partner Bruno Secatore. Deloitte Restructuring Consultant Simon Wallace-Smith. Eventful on multiple levels best describes yesterday’s public examination (PE) of former Deloitte partner and now consultant Simon Wallace-Smith, who was being questioned about his former tenure as liquidator of Last Lap Pty Ltd by counsel for the current incumbent. To start with, there were problems with all the parties being on the same…