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Acn 093 117 232 Pty Ltd (In Liq) V Intelara Engineering Consultants Pty Ltd (In Liq)

Federal Court of Australia

Judgment Date:
2019-09-06

Abstract:
The Federal Court of Australia (FCA) has granted the declarations sought that the transaction by which Intelara Party Ltd (IPL) sold its business and assets to Intelara Engineering Consultants Pty Ltd (IECPL) has constituted voidable transaction, insolvent transaction and unreasonable director-related transaction. The FCA found that the employees of IPL who were 'transferred' to IECPL were disadvantaged by IECPL assuming liability for their employment entitlements although it had no capital to satisfy the employees.

Corporations | Insolvency | Interim liquidators | Special purpose liquidator

Published:
8/10/2019
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