Director liability for uncommercial transactions: is s 588G(1A) impotent to provide liquidators the means to seek compensation for creditors?

Since the addition of uncommercial transactions to the table of deemed “debts incurred” in s 588G(1A) of the Corporations Act 2001 (Cth) (the Act), what, if anything, has this sub-section achieved? One could be forgiven for answering: “not a great deal”. This article provides a possible explanation of why this has been so, and what needs to be done to enable this aspect of Australia’s insolvent trading laws to operate effectively and as originally intended.