High Court Refuses Special Leave to Appeal in ‘Unreasonable Director Related Transaction’ Case

Trevor Withane of Ironbridge Legal reviews the High Court’s decision not to hear an appeal in CEG Direct Securities v Cooper, a case where a liquidator challenged a mortgage as an unreasonable director-related transaction, and explains that while “benefit” under section 588FDA is to be read broadly, liquidators must still prove with evidence that such transactions lack commercial justification.

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