Computek Pty Ltd is a company that manufactures computers. Jason, Mark and Larry are the directors. On
Question:
Computek Pty Ltd is a company that manufactures computers. Jason, Mark and Larry are the directors. On 30 September 2018, one of Computek’s creditors applies to the court to have Computek wound up in insolvency. The court makes a winding up order, and appoints a liquidator on 31 October. It seems that unsecured creditors are only likely to receive about “10 cents in a dollar”. Are any of the following transactions a “voidable transaction”?
•On 30 June 2016, Computek paid Mary the full invoice amount it owed for some consulting services Mary provided to Computek. Mary is Mark’s sister
.•On 30 January 2017, Computek sold one of their premises to David. The market value of the premises was $ 360,000. Computek sold it for $100,000.
Please help me solve this problem by stating the following:
legal issues,
Legal Law,
Application of the Law,
Conclusion
Expert Answer:
Answer The primary issue arising from the first situation is whether Mary in her position as an unsecured creditor was entitled to full invoice amount ... View the full answer
