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Can a director be personally liable for insolvent trading?
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3 verified sources
s 588G Corporations Act 2001 ASIC v Plymin (2003) s 588H (defences)
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Answer
A director may be personally liable where the company incurs a debt while insolvent and there were reasonable grounds to suspect insolvency, under s 588G of the Corporations Act 2001 (Cth), as applied in ASIC v Plymin (2003).
2 verified sources
Corporations Act 2001 (Cth)
s 588G · Director's duty to prevent insolvent trading
ACT
ASIC v Plymin (No 1)
[2003] VSC 123 · Supreme Court of Victoria
CASE
Research
unfair dismissal, minimum employment period
All jurisdictions Cth NSW Legislation Case law
Fair Work Act 2009 (Cth) · s 382
Defines when a person is protected from unfair dismissal.
Fair Work Act 2009 (Cth) · s 383
Minimum employment period: 6 months, or 12 for small business.
Shorten v Esphigmenou [2013] FWC
Application of the minimum period to casual employment.
Memo of advice · draft
Memorandum of Advice
Drafting from sources
s 588G Corporations Act ASIC v Plymin Matter: Whitlock
Matter
Whitlock v Pearce
Commercial litigation · NSW · opened 12 May
Statement of claim · filedDocument
Insolvent trading · 6 authoritiesResearch
Email from opposing solicitorCorrespondence
Directions hearing · 4 JunDiary
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