INFO 261
ASIC orders about creditor-defeating dispositions
This is Information Sheet 261 (INFO 261). A creditor-defeating disposition is a disposal of company property that prevents, hinders or significantly delays that property from becoming available for the benefit of creditors in the winding up of the company.
In plain English
INFO 261 explains creditor-defeating dispositions. These are asset transfers that harm creditors during company liquidation.
ASIC’s INFO 261 explains creditor-defeating dispositions. It applies to registered liquidators. A creditor-defeating disposition is when a company transfers assets that then prevents, hinders, or delays creditors receiving what they are owed during liquidation. This information sheet provides guidance on ASIC’s orders relating to these dispositions.
Why it matters
If your business is facing liquidation, understand what actions might be considered creditor-defeating dispositions. Directors and liquidators need to be aware of these rules to avoid potential issues.
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Issuing regulator
ASIC →Topics
Source: https://www.asic.gov.au/for-finance-professionals/registered-liquidators/your-ongoing-obligations-as-a-registered-liquidator/asic-orders-about-creditor-defeating-dispositions/. Rules Mate indexes + summarises; always verify against the regulator's live publication.