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Directors beware – companies can pierce the corporate veil

Tax & Superannuation| 04 Jun 2020

Directors beware – companies can pierce the corporate veil

As we know, the Federal Government has implemented a package of changes to Australian insolvency and bankruptcy laws to provide relief from the economic impacts of COVID-19. There are some who consider that the measures, together with other schemes such ...

The Final Say: High Court rules that liquidators are not obliged to retain funds until a notice of assessment is issued

Insolvency & Reconstruction| 15 Dec 2015

The Final Say: High Court rules that liquidators are not obliged to retain funds until a notice of assessment is issued

On 10 December 2015, a majority of the High Court of Australia ruled in Commissioner of Taxation v Australian Building Systems Pty Ltd (In Liquidation)1 that liquidators are not obliged to, and are not personally liable for, failing to retain sufficient funds ...