NSW Supreme Court Clarifies Director Liability and the Limits of the section 588FG Defence in Deposit-Funded Property Transactions

Trevor Withane of Ironbridge Legal analyses the NSW Supreme Court’s decision in In the matter of Portman Securities (in liq) Pty Ltd to clarify when deposit-funded property transactions can be unwound, emphasising heightened director duties and the narrow scope of the section 588FG good-faith defence where counterparties ignore clear warning signs.

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