Industry 7 April 2015
Voidable transactions – High Court resolves uncertainty about statutory time limits
The High Court has recently delivered 2 decisions in the Octavia liquidation that clarify the circumstances in which a liquidator can seek an extension of time to bring a voidable transaction claim.
Q. Can an order extending time to bring a voidable transaction claim (Shelf Order) be obtained?
(See Fortress Credit Corporation (Australia) II Pty Limited v Fletcher  HCA 10)
Q. Can a second extension of time be sought out of time or within the extension period originally granted?
(See Grant Samuel Corporate Finance Pty Limited v Fletcher  HCA 8)
Ironbark Funding can provide funding for Shelf Order applications and any subsequent voidable transaction proceedings.Back to news