Gavel and books

Results Legal Principal, Anna Taylor explores the changing landscape of unfair preferences in 2022.

In the recent decision of MJ Woodman Electrical Contractors Pty Ltd v Metal Manufacturers Pty Limited [2021] FCAFC 228 (MJ Woodman), the Federal Court of Australia Full Court confirmed that the statutory set-off, under s553C(1) of the Corporations Act 2001 (Cth) (the Act), cannot reduce a creditors unfair preference claim.

What does this mean for creditors in 2022?

Anna explores the effect of this decision for preference payments and the changing insolvency landscape in the Australian Institute of Credit Management’s January 2022 issues of Credit Management in Australia.

 

Read the Full Article – CLICK HERE

Watch this space… appeal pending with Application for Special Leave!

An application for special leave to appeal has been filed with the High Court on 13 January 2022.

We will provide an update following the hearing of the application for special leave and any subsequent appeal.

ALSO READ: Important Win for Creditors Defending Unfair Preference Claims

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Results Legal specialises in Debt Recovery, Insolvency Law and Commercial Disputes. If you need legal advice on Commercial Contracts or representation of specialist lawyers concerning Shareholder Disputes or PPSA Claims, please contact our team on 1300 757 534 or use our contact form to send us your enquiries.

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