Mountain High, Valley Low: High Court Upholds no Peak Indebtedness Rule for Unfair Preference Claims in Badenoch
Executive Summary The High Court1 has yesterday unanimously upheld the decision of the Full Court2 that the “peak indebtedness rule” in relation to unfair preference claims brought by a liquidator has no application in Australia. Background to the “peak indebtedness rule” To determine whether there has been an unfair preference where there is a running […]