Recorded Webinar: At last: The High Court's View on Statutory set-offs and Claw backs of Unfair Preferences

For decades, Australian insolvency practitioners have grappled with the issue of statutory set-offs and the extent to which they are available against claw backs of unfair preferences. In 2021, the Full Federal Court in Woodman’s case unanimously said such statutory set-offs were not available. However, in February 2023 the High Court handed down its highly-anticipated decisions after granting special leave to hear that issue on appeal. This session will discuss the facts and legal issues of Woodman’s case, specifically:

• The findings of the court at first instance, the Full Federal Court and the basis for those decisions;
• Sections 553C(1) and 588FC of the Corporations Act (how these were interpreted at first instance and then on appeal);
• The outcome and reasoning of the High Court’s decision; and
• The extent to which this issue sets a binding precedent for lower courts and finally puts the issue to rest