Debts “incurred” by receivers, administrators and liquidators : the case for a harmonised construction of ss 419, 443A and 556(1)(a) of the Corporations Act

Wellard, MN

Debts “incurred” by receivers, administrators and liquidators : the case for a harmonised construction of ss 419, 443A and 556(1)(a) of the Corporations Act

Wellard, MN

Permalink

Publisher:: Thomson Legal & Regulatory
Publication Type:: Journal Article
Citation:: Insolvency Law Journal, 2013, 21 pp. 60 - 81
Issue Date:: 2013-03

Closed Access

	Filename	Description	Size
	1 WLDocs from Insolvency Law Journal.pdf	Published Version	199.79 kB	Adobe PDF	View/Open

Copyright Clearance Process

Recently Added
In Progress
Closed Access

This item is closed access and not available.

Full metadata record

Field	Value	Language
dc.contributor.author	Wellard, MN https://orcid.org/0000-0003-3784-2079	en_US
dc.date.issued	2013-03	en_US
dc.identifier.citation	Insolvency Law Journal, 2013, 21 pp. 60 - 81	en_US
dc.identifier.uri	http://hdl.handle.net/10453/134023
dc.description.abstract	This article analyses the inconsistent approaches taken by courts when interpreting provisions of the Corporations Act which address debts or expenses “incurred” by receivers, administrators and liquidators. The article contends for a consistent construction of these provisions which will enable the legislation to operate (as was intended) for the benefit of persons who supply goods, services or labour to companies in external administration. The article explains how and why debts can be “incurred” by insolvency practitioners continuing on pre-existing contracts. Specifically, the article contends for a construction of ss 419 and 443A of the Corporations Act which renders receivers and administrators personally liable for certain entitlements of employees (eg, wages and superannuation contributions) which become due and payable by reason of the decision of a receiver or administrator to continue a pre-existing contract rather than terminate it.	en_US
dc.publisher	Thomson Legal & Regulatory	en_US
dc.relation.ispartof	Insolvency Law Journal	en_US
dc.title	Debts “incurred” by receivers, administrators and liquidators : the case for a harmonised construction of ss 419, 443A and 556(1)(a) of the Corporations Act	en_US
dc.type	Journal Article
utslib.citation.volume	21	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
utslib.for	1801 Law	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US
pubs.volume	21	en_US

Abstract:

This article analyses the inconsistent approaches taken by courts when interpreting provisions of the Corporations Act which address debts or expenses “incurred” by receivers, administrators and liquidators. The article contends for a consistent construction of these provisions which will enable the legislation to operate (as was intended) for the benefit of persons who supply goods, services or labour to companies in external administration. The article explains how and why debts can be “incurred” by insolvency practitioners continuing on pre-existing contracts. Specifically, the article contends for a construction of ss 419 and 443A of the Corporations Act which renders receivers and administrators personally liable for certain entitlements of employees (eg, wages and superannuation contributions) which become due and payable by reason of the decision of a receiver or administrator to continue a pre-existing contract rather than terminate it.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/134023