Australian Securities and Investments Commission v Fortescue Metals Group Ltd

In unfair preference claims, payments and supplies within a continuing business relationship are assessed as a whole under the running account principle, not individually.

HCA held that a creditor's statutory demand under s.459E Corporations Act cannot be set aside merely because the company disputes the debt; a genuine dispute on substantial grounds must be shown.

Director disqualification upheld where director failed to maintain adequate books and records, constituting misconduct in management of insolvent company.