The word 'alienation' in s 37A of the Conveyancing Act 1919 (NSW) encompasses every conceivable means whereby property might be removed from creditors' reach, including acts of a collusive third party, and does not require that the alienation be by the act of the fraudulent debtor. Co-directors jointly and severally liable for insolvent trading under s 588M(2) of the Corporations Act are subject to the doctrine of equitable contribution, including where the co-director from whom contribution is sought was not sued directly by the liquidators. Discretionary relief under s 1317S and s 1318 for directors who acted honestly in continuing to trade while insolvent is available only for the period during which it was commercially justifiable to expect resolution of the companies' financial difficulties; once it became clear that resolution was not imminent, the relief ceases.
The full text is available to signed-in members, including the 91 later cases that cite this judgment.
10 of the 91 citing cases carry a classified treatment. How each court treated it is available to signed-in members.