Transactions entered into by a company on the verge of voluntary administration with related entities, where the purported benefits are illusory given the company's imminent insolvency, will be set aside as uncommercial transactions under s 588FB of the Corporations Act. The timing of transactions in relation to anticipated administration is a relevant matter under s 588FB(1)(d) and is not impermissible 'hindsight reasoning'. The question of whether an invalidly appointed controller owes the duties of a validly appointed controller under the Corporations Act was expressly left open.
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