Cant v Mad Brothers Earthmoving
August 5, 2020 < 1Reading Time: < 1 minute
Today the Victorian Court of Appeal handed down its decision in Cant v Mad Brothers Earthmoving Pty Ltd  VSCA 198 (Beach, McLeish and Hargrave JJA) giving much needed clarification of what constitutes an unfair preference under S 588FA of the Corporations Act 2001.
The Court of Appeal, in dismissing the Liquidator’s appeal, has held it is necessary that a preference be received from the assets of the company and result in a diminution of the assets of the company available to the creditors.
For full details please refer to the Court of Appeal’s decision here.
I would like to congratulate and thank Mad Brothers Earthmoving Pty Ltd, their counsel Mr Stephen Palmer and Mr Lachlan Molesworth, and the Oakley Thompson & Co team members involved in this appeal.