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Cant v Mad Brothers Earthmoving

3AM3 Julian Vagg < 1

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Today the Victorian Court of Appeal handed down its decision in Cant v Mad Brothers Earthmoving Pty Ltd [2020] 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.

Julian Vagg

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