Full Record

Overview of insolvent trading provisions Development of insolvent trading provisions in Australia Need for reform Pivotal provision: s 588G Corporations Law - who is a 'director', ambit of definition, incurs a debt, reasonable grounds for suspecting, failure to prevent the incurring of a debt, definition of solvency, when a debt is due and payable Defences - reasonable grounds to expect solvency, reliance on another, illness or other good reason, reasonable steps to avoid incurring a debt, relief and anticipatory relief from liability for contravention of a civil liability provision Proceedings Liability by a holding company for insolvent training by subsidiary Practical consideration of the Corporations Law for directors and their advisers What directors and advisers should know Regulation of insolvent trading Precedents: statement of claim, insolvent trading defence Corporations Law - recovering property or compensation for the benefit of creditors, unsecured amount - realisation costs, civil and criminal consequences of contravening civil penalty provisions