Day: 16 August 2022

On 29 April 2022, Justice Anastassiou of the Federal Court of Australia delivered his judgement for the case of Aviation 3030 Pty Ltd (in liq) v Lao [2022] FCA 458 (Aviation 3030). 

Aviation 3030 dealt with the determination of whether the grant of shares by a director to himself constituted an unreasonable director-related transaction pursuant to section 588FDA Corporations Act 2001 (Cth)(Act).

The Supreme Court recently considered the application of provisions in the Corporations Act 2001 (Cth) (Act) relating to actions taken to defeat creditors and deprive them of a return in a winding up (otherwise known as phoenix activity) in Re Intellicoms (in liq) [2022] VSC 228.