Director disqualification upheld where director failed to maintain adequate books and records, constituting misconduct in management of insolvent company.
insolvency
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.
Directors incur personal liability under s.588G Corporations Act for insolvent trading where there are reasonable grounds to suspect insolvency at the time debts are incurred.
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