Transaction by Insurance Act statutory manager not voidable under section 588FE of the Corporations Act 2001
62ZOL Transaction by Insurance Act statutory manager not voidable under section 588FE of the Corporations Act 2001
A transaction of a body corporate is not voidable under section 588FE of the Corporations Act 2001 merely because:
the transaction was entered into at a time when an Insurance Act statutory manager was in control of the body corporate’s business; and
the transaction is:
an uncommercial transaction (within the meaning of that Act) of the body corporate; or
an unfair preference (within the meaning of that Act) given by the body corporate to a creditor of the company; or
an insolvent transaction (within the meaning of that Act) of the body corporate; or
a creditor‑defeating disposition (within the meaning of that Act) by the body corporate.
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