Corporations act s 553c
http://www5.austlii.edu.au/au/legis/cth/num_act/ca2001172/s553c.html http://www5.austlii.edu.au/au/legis/cth/num_act/ca2001172/s553.html
Corporations act s 553c
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WebThe Court of Appeal - Supreme Court of Western Australia has delivered a decision confirming that a statutory set-off under s 553C of the Corporations Act can still be available to a creditor where a general security interest has attached to the amounts it is seeking to set-off (provided those amounts are circulating assets of the insolvent … WebSection 553C(2) of the Act prohibits anyone from claiming insolvency set-off where, at the time credit is given to, or received from, the company, they had notice of a …
WebOct 22, 2024 · Section 553C of the Act provides that: (1) Subject to subsection (2), where there have been mutual credits, mutual debts or other mutual dealings between an insolvent company that is being wound up and a person who wants to have a debt or claim admitted against the company: WebCorporations (Aboriginal and Torres Strait Islander) Act 2006. "accounting standard" means: (a) an instrumentin force under section 334; or (b) a provisionof such an instrumentas it so has effect. "ACN" (short for "Australian Company Number") is the number given by ASICto a companyon registration (see sections 118and 601BD).
http://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s553b.html WebJun 6, 2024 · Section 553C of the Act provides the following: Subject to subsection (2), where there have been mutual credits, mutual debts or other mutual dealings between an insolvent company that is being wound up and a person who wants to have a debt or claim admitted against the company:
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hippie factsWebCORPORATIONS ACT 2001 - SECT 553C. Insolvent companies--mutual credit and set-off. (1) Subject to subsection (2), where there have been mutualcredits, mutual debts or other mutual dealingsbetween an insolvent companythat is being wound up and a … Corporations Act 2001. 50, 2001. 28 June 2001. 15 July 2001 (s 2 and gaz 2001, … We would like to show you a description here but the site won’t allow us. hippie fancy dressWebGround 7 – The learned trial judge’s finding that section 553C (2) of the Corporations Act did not preclude the set-off proposed by Multiplex interfered with the well-established statutory regime and its underlying principle of pari passu, by which creditors of a company in liquidation are allowed to, and required to, share rateably in the … homes for sale 46143 zip codeWebFeb 24, 2024 · In the matter of Morton as liquidator of MJ Woodman Electrical Contractors Pty Ltd (In Liq) v Metal Manufacturers Pty Ltd [2024] FCAFC 228, the Full Court held that s. 553C of the Corporations Act 2001 was not available as a set-off defence to a preference claim brought by a liquidator. hippie face makeupWebThere are currently no known outstanding effects for the Corporation Tax Act 2010, Section 553. 553 Meaning of “holder of excessive rights”. (1) For the purposes of section … hippie facesWebDec 21, 2024 · The Purpose of the Act is to maintain and protect the priority regime, ensuring that all creditors are treated equally in liquidation. The Court holds that set-offs under section 553C cannot contravene this system. Relevant Facts The Defendant creditor received payment during the relation-back period of $190,000. hippie fall wedding dressesWebApr 14, 2024 · Pursuant to section 553C of the Act, a company’s creditors will be automatically entitled to a right of set-off where there have been mutual credits, debts or other dealings between an insolvent ... homes for sale 46217 zip code