In good news for liquidators, the Federal Court's
decision in Marsden (liquidator) v CVS Lane PV Pty Limited Re:
Pentridge Village (in which Dentons acted for the liquidator)
confirms that time will be extended for liquidators who are unable
to bring voidable transaction proceedings within the relevant
timeframe due to a lack of funding.
The case also has wider implications. It could be relied upon by
liquidators to justify subsequent claims which could otherwise have
been brought at an earlier stage if funding had been available.
Extending time to bring voidable transaction proceedings
Proceedings brought by liquidators in relation to voidable
transactions under s 588FF(1) of the Corporations Act must
be brought:
