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Clawback Risks In Bankruptcy Explained
Bankruptcy trustees can challenge pre-bankruptcy transactions under sections 120, 121, and 122 of the Bankruptcy Act 1966, targeting undervalued transfers, creditor-defeating arrangements, and preferential payments. Understanding the statutory tests, timing rules, and evidentiary requirements is essential for recipients facing clawback demands, as market value alone does not guarantee protection and poor documentation can prove decisive.
Australia Insolvency
SL
Stonegate Legal
Article
Preliminary Disclosure In Queensland — Rules 208C–208G
Queensland's preliminary disclosure rules offer limited pre-litigation relief through two distinct mechanisms: one for identifying or locating prospective defendants, and another for obtaining documents essential to deciding whether to commence proceedings. Recent Supreme Court decisions clarify the stringent evidentiary requirements and narrow scope of these discretionary remedies, establishing that they do not create a general investigative right into another party's affairs.
Australia Litigation
SL
Stonegate Legal
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