Bankruptcy - Disposition of Property - Intention of bankrupt to use corporate vehicle owned by bankrupt for purchase of business for the purpose of a "back door listing" - Transfer of share in corporate vehicle to family members for nominal but adequate consideration in expectation of increase in value - Subsequent purchase of business by corporate vehicle and commensurate increase in value of share - Whether disposition of property for undervalue - Whether creditors entitled to the increased value of share - Whether intent to defraud creditors.
Corporations - Winding up - Undue preference - Disposition of property - Intention to use subsidiary corporate vehicle for purchase of business for the purpose of a "back door listing" - Transfer and issue of shares in corporate vehicle to family members of director for nominal but adequate consideration in expectation of increase in value - Subsequent purchase of business by corporate vehicle and commensurate increase in value of shares - Whether disposition of property for undervalue - Whether creditors entitled to the increased value of shares - Whether intent to defraud creditors.
Words and Phrases - "Acts of intent to defraud creditors".
Bankruptcy Act 1966 (Cth), ss 120, 121.
Corporations Law, s 565.