Section 588GAA — Corporations Act 2001 (Cth)

The object of this Subdivision is to deter the practice (which may form part of the activity sometimes called phoenixing) of disposing of a company’s assets to avoid the company’s obligations to its creditors.

Related sections

• s 588FO — Certain lessors, bailors and consignors entitled to damages
• s 588FP — Security interests in favour of an officer of a company etc. void
• s 588G — Director’s duty to prevent insolvent trading by company
• s 588GAB — Officer’s duty to prevent creditor‑defeating disposition
• s 588GAC — Procuring creditor‑defeating disposition
• s 588GA — Safe harbour—taking course of action reasonably likely to lead to a better outcome for the company

Research how courts apply s 588GAA

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.