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Special Report on

Unfair Preference Payments

unfair preference payments special research report Photo by static.guim.co.uk
regarding overseas income and assets. If you or your business has offshore income or assets which has not been disclosed to the Australian Taxation Office ( ATO ) now is the time to do something about it. If you have entered into an arrangement or structure the purpose of which is to cover up or hide income or assets or have claimed any deduction or depended on any scheme, arrangement or false documentation to limit your taxation liability then you need to be aware of the ATO’s Offshore Voluntary Disclosure Initiative (OVDI). The ATO is currently providing substantial concessions under the OVDI. However this is due to expire ...
The law on unfair preferences varies from country to country, but characteristically, to set a transaction or payment aside as an unfair preference, the liquidator will need to show that: the person or company was insolvent at the time the payment was made (either on the cash-flow test, or on the balance sheet test - it varies from country to country) the person or company then went into bankruptcy within a specified time thereafter, usually referred to as the vulnerability period the payment had the effect of putting the creditor in a better position than other unsecured creditors in some jurisdictions, it is also necessary to ...
REVIEWS AND OPINIONS
Preference payments for companies
Unfair preferences usually involve transactions that discriminate in favour of one creditor at the expense of other creditors. The aim of the law outlined below is to enforce equal treatment of creditors by preventing any unsecured creditors receiving an advantage over others. The proceeds of any property you, as a liquidator, recover and realise will form part of the funds available for distribution amongst all unsecured creditors after the winding-up expenses have been paid. From 1 June 2010, we will repay voidable transactions without you having to obtain a court order under section 588FF of the Corporations Act 2001 ... market research, surveys and trends
Allens Arthur Robinson: Publication: Focus: Unfair preference ...
The Victorian Court of Appeal recently considered whether mining lease rents and royalty payments made to the Minister administering the Mining Act 1978 (WA) were unfair preferences under section 588FA of the Corporations Act 2001 (Cth). Partner Michael Quinlan and Lawyer Leesa Vanmali report on a decision that may affect a liquidator's ability to recover certain payments in a winding-up. The decision confirms that, in determining whether a particular transaction constitutes an unfair preference for the purposes of section 588FA of the Corporations Act 2001 (Cth) (the Act ), it is, generally, the entirety of the transaction ... market research, surveys and trends

SURVEY RESULTS FOR
UNFAIR PREFERENCE PAYMENTS

Australia, Accounting, Henry Tax Review Recommends Resources Rent ...
Proposed amendments to financial and disclosure requirements in the extractive industries sector will see a significant overhaul of existing standards and greater obligations on entities to declare information on a number of activities that currently may go unreported. Cost Cutting Measures for Non Profit Organizations (LarsonAllen LLP) As the recession abates, most institutions are still struggling to generate adequate revenues. SaaS is Different – An Accounting Primer for SaaS Companies (BDO ) The accounting rules in the United States for software‐as‐a‐service or "SaaS" companies are fundamentally ... industry trends, business articles and survey research
Bulletin No 66, February 2003
You may use this material for your own personal reference only. The material may not otherwise be used, copied or redistributed in any form or by any means without a multiple user licence with LAWLEX. CHANGE OF EMAIL ADDRESS Subscribers who change their email address should notify LAWLEX at "cclsr@lawlex.com.au". CONTENTS 1. RECENT CORPORATE LAW AND CORPORATE GOVERNANCE DEVELOPMENTS (A) Major survey on not-for-profit companies (B) SEC adopts analyst certification rule (C) APRA survey probes super investment performance (D) UK Secretary of State for Trade and Industry announcement on corporate governance reforms (E) industry trends, business articles and survey research
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INFORMATION RESOURCES

Recovering Unfair Preference Payments - RECOVERY OF UNFAIR ...
the creditor could be characterised as unfair preference payments, was the decision of Clyde Peter White and Philip Newman (as Liquidators of Entertainment ... technology research, surveys study and trend statistics
Attorney Fees - Minnesota Legislature - Office of the Revisor of ...
technology research, surveys study and trend statistics
Tribal Secured Transaction Law –
managed upon default of payment against debt. (In a private enterprise ... filing or so close in time as to give the creditor an unfair preference over ...
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UNFAIR PREFERENCE PAYMENTS
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QUESTIONS AND ANSWERS
what happens to a 401k plan once you're unemployed?
Unemployment rates have skyrocketed to 8.1 percent in February, according to the Bureau of Labor Statistics.Many people either know someone who’s been laid off or were laid off themselves. When you lose your job, you may have to put yourself on a financial diet. People tend to eat less when they want to lose weight, and staying afloat financially is no different and really quite simple: spend less. It’s not an easy process, but it can be done with a little self-discipline, some creativity and a whole lot of planning. Plan for a six-month period of unemployment. It’s hard to know how long you’ll be unemployed, but according to ...
Why do fathers have to pay back Welfare when the mothers are the ...
I have a grandson who was paying $500 a month in child support to the mother of his children. They were doing it without a court order as she didn't want to mess with dealing with the courts. She didn't work, so she was ion Welfare, but said she was declaring the money to them. Now, nearly six years later, he has been ordered to pay over $40,000 in retroactive child support because she was lying. They said he should have known that anything paid in Ohio has to be paid through the courts and that ignorance of the law was not an excuse. The mother has lost her benefits for lying, but nothing more, so now ...