Journal article
The Price of Power: Restraints on Liquidators under s 477(2A) and (2B) of the Corporations Act
Insolvency law journal, Vol.33(2), pp.69-94
2025
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Abstract
The restraints on the powers of company liquidators under s 477(2A) and (2B) of the Corporations Act 2001 (Cth) have produced a number of challenges in practice. Uncertainty surrounding when the restraints are engaged, anomalous outcomes in their arbitrary application to particular transactions and the significant cost they impose on insolvent liquidations produce what one judge has described as "unfavourable circumstances" for both liquidators and courts. A critical analysis of these fetters on liquidators' powers informs a debate as to whether Australia should follow the lead of the United Kingdom (in 2015) and repeal these restraints so that liquidators enjoy the same unfettered powers as company administrators.
Details
- Title
- The Price of Power: Restraints on Liquidators under s 477(2A) and (2B) of the Corporations Act
- Creators
- Mark Wellard - Southern Cross University
- Publication Details
- Insolvency law journal, Vol.33(2), pp.69-94
- Publisher
- Lawbook Co Ltd
- Number of pages
- 68
- Identifiers
- 991013287846002368
- Academic Unit
- Faculty of Business, Law and Arts
- Language
- English
- Resource Type
- Journal article