Set-off vs employee entitlements: Supreme Court provides clarity for liquidators

Katherine Payne and Eddy Mizrahi of Hall & Wilcox summarise a hotly-anticipated decision on a secured creditor’s right of set-off over cash at bank at the time of the liquidators’ appointment vis-a-vis employees claiming those funds were required to be allocated to employee entitlements under section 561 of the Corporations Act 2001.

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