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ARTICLE · 06 JUNE 2020

There Is No Voidance In Delay: Liquidator Request For Extension Of Time To Bring Voidable Transaction Proceedings Refused

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Liquidators must act promptly when applying for an extension of time to commence proceedings for voidable transactions.

AustraliaInsolvency/Bankruptcy/Re-Structuring
Cameron Cheetham
Cameron Cheetham
Mark Wilks
Mark Wilks
Craig Ensor
Craig Ensor
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This week's TGIF considers the decision of In the matter of Cohalan & Mitchell Roofing (in liquidation) [2020] VSC 222, where the Supreme Court of Victoria refused to grant an extension of time for filing voidable transaction proceedings.

Background

Cohalan & Mitchell Roofing Pty Ltd (in liquidation) (the Company) conducted a residential roofing business from February 1998 to January 2015. On 20 November 2015, the members of the Company resolved to wind up the Company and David Iannuzzi and Steven Naidenov were appointed as joint and several liquidators (Former Liquidators). The Former Liquidators resigned on 19 April 2017 and the creditors of the Company resolved to appoint Stephen John Michell was appointed as a replacement liquidator (Liquidator).

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