Bryant v Badenoch Integrated Logging Pty Ltd

Unfair preferences — peak indebtedness rule abolished. Where payments form an integral part of a continuing business relationship, s 588FA(3) Corporations Act 2001 (Cth) treats them as a single transaction; the liquidator cannot choose the point of peak indebtedness as the start of the running account. The account runs from the commencement of the continuing business relationship or the commencement of the relation-back period, whichever is later, to the end of the relationship.