Voidable Transactions

Tahmoor liquidators summon team Gupta

McGrathNicol partner Shaun Fraser. The security interest shell game Sanjeev Gupta has played with the assets of GFG Alliance was always going to come under scrutiny once one of the group’s entities fell into the hands of independent liquidators with funds. That scrutiny was also always going to include Gupta’s lenders, lawyers and advisors and last month in the Federal Court McGrathNicol’s Shaun Fraser and…

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Pre-insolvency advisory fingered in phoenix judgment

PKF’s Petr Vrsecky. PKF partner Glenn Franklin. There was much hyperventilating last week after delivery of judgment in the matter of Intellicomms Pty Ltd (in liq) [2022] VSC 228 which record the first application of new laws aimed at combatting illegal phoenix activity. While it’s early days and the judgment could be overturned on appeal, few of the breathless commentators who explored this inaugural application…