Funds in a director's personal bank account are not available to a company for solvency purposes unless there is a degree of assuredness that the financial support will be forthcoming, not merely that it might be. Company books kept using MYOB software are admissible as prima facie evidence under ss 1305 and 1306 of the Corporations Act and cannot be rejected merely because they have not been 'reconciled' to bank statements. Where goods subject to a retention of title clause are no longer available to be recovered, the creditor's debt is 'wholly or partly unsecured' for the purposes of s 588G. An unregistered security interest under the PPSA vests in the company upon winding up under s 267(2) of the PPSA, rendering the debt unsecured for unfair preference purposes.
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