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LAW OF BUSINESS ORGANISATION: QUESTIONS AUSTRALIAN LAW Three months before the winding up of Gogomobile Ltd in October this year, a sheriff seized 3 trucks

LAW OF BUSINESS ORGANISATION: QUESTIONS AUSTRALIAN LAW

Three months before the winding up of Gogomobile Ltd in October this year, a sheriff seized 3 trucks belonging to the company following a court order. To pay the debt, the company, at a days notice, borrowed the sum of $150,000.00 at the rate of 25%, on the security of a warehouse it owned. It also paid a success fee of $10,000.00 to Very Sharp, the lender. What, if any, action can the liquidator take in light of these circumstances?

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