Insolvency report + court liq (only) = s588FJ orders access
The absurdity of poor legislative drafting was on show on Thursday, as a creditor-appointed Liquidator was made to seek orders appointing himself as a court-appointed Liquidator for the purposes of setting aside voidable security agreements. Let me explain … [the case is Hayes v Spyrou] Pursuant to s588FJ Corporations Act, if a security agreement in…