What Is A Featherweight Security Agreement

Dec 20, 2020
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1 Corporations Act 2001 (Cth), s 187.2 Corporations Act 2001 (Cth), s 440B.3 Corporations Act 2001 (Cth), s 250A (3).4 Corporations Act 2001 (Cth), s 588 G.5 Corporations Corporations Act 2000 1 (Cth), ss 588H (5) and (6).6 In NAB v Horne and Vrsecky, as trustees of the Australian Property Custodian Holdings Ltd (directors appointed) [2011] VSCA 280, the Court of Appeal voted at first instance with the Supreme Court of Victoria 7 Cf. Re Croftbell Ltd [1990] BCLC 844, where an English court upheld the use of a featherweight obligation for which the administration of a company could only be initiated following a notification. Request of a person with a variable charge on all or for the most part of the ownership of the business or a designated recipient by that person.8 Personal Property Securities Act 2009 (Cth), s 340 (2).9 Personal property Securities Act 2,009 (Cth), s 340 (1).10 Personal Property Securities Act 2009 (Cth), s 340 (5).11 Personal Property Securities Act 2009 (Cth) , s 341.12 Personal Property Securities Act 2009 (Cth), s 341A. 13 See Re Spectrum Plus Ltd [2005] UKHL 4114 Personal Property Securities Act 2009 (Cth), ss 341 (3) and (4).15 Personal Property Securities Act 2009 (Cth), s 341 (1)16 Personal Property Securities Act 2009 (Cth), s 21(2) (c).17 Personal Property Securities Act 2009 (Cth), s 340.18 Personal Property Securities Act 2009 (Cth) , s 57.19 Personal Property Securities Act 2009 (Cth), s 21 (2) (c).20 Personal Property Securities Act 2009 (Cth), s 21 (a).21 Personal Property Securities Act 2009 (Cth), s 33.2 2 Personal Property Securities Act 2009 (Cth), ss 57 and 75.23 Personal Property Securities Act 2009 (Cth), s 25.24 Corporations Act 2001 (Cth), Part 5.25 Personal Property Securities Act 2009 (Cth) , s 14.26 Personal Property Securities Act 2009 (Cth), s 62.27 Personal Property Securities Act 2009 (Cth), ss 57 and 75.28 Personal Property Securities Act 2009 (Cth), s 64. Each type of cancelled transaction has different criteria and duration times (which may be longer if the transaction involves a related party). An unfair preference is achieved when an unsecured creditor receives a higher amount than he would have received, if the creditor were to prove it when the business was liquidated. A loan, guarantee or guarantee may be deferred as a non-commercial transaction if an appropriate person in the entity`s position has not completed the transaction. An unfair loan to a business at any time prior to liquidation may be deferred, regardless of whether or not the business was insolvent at the time of the loan.

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