One of the more controversial areas in insolvency, Voidable Transactions give liquidators the ability to potentially claw back money from creditors who have been given preference of payment by the director of the now insolvent company.
Liquidators can go back up to 24 months to see if there have been any transactions that may be deemed as voidable.
Damien Grant and Brent Norling (from Norling Law) discuss the Voidable Transaction Regime and cover:
- History of Voidable Transactions
- The VT process
- Defenses to VT
- Other exceptions
- New Zealand Case studies
- Theory and practical application
- What you should do if you are served a Voidable Transaction notice
If you are a director of any business that provides good or services, you must understand how the Voidable Transaction regime works in order to make the best decisions for your business moving forward.