Gunned down in Australia: the peak indebtedness rule and set-off defence
Credit: Shutterstock.com/ChristopherSlesarchik
In two historic decisions concerning unfair preferences, the Australian High Court has found that a creditor cannot set-off a liquidator’s claim against it, and upheld the abolishment of the “peak indebtedness rule” while establishing when liquidators should start calculating preference payments in a running account.
To read more
Subscribe to Global Restructuring Review
Register for limited access
Register to receive our newsletter and gain limited access to subscriber content.
Register now
Subscribe to unlock unlimited access
Get news, unique commentary, expert analysis and essential resources from the Global Restructuring Review experts.
Subscribe now