Supplier beware: Pt 5.3B “small business” restructuring, winding up applications and dispositions of company property during “debtor-in-possession” trading
- Publication Type:
- Journal Article
- Insolvency Law Bulletin, 2021, 21, (3&4), pp. 46-50
- Issue Date:
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This article analyses two apparent flaws in Australia's new Part 5.3B "debtor in possession" procedure for "small business restructuring" under the Corporations Act 2001. In particular, the validity of transactions that occur during the restructuring period of "debtor in possession" trading may be exposed if a winding up order is made after the appointment of a Pt 5.3B restructuring practitioner.
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