only answer when you are able to write thousand words and in a proper way

Required

Consider the questions posed by the liquidator and give your advice based upon sections of the Corporations Act 2001 (Cth) and relevant case law.

Splendid Homes Ltd (the Company) was incorporated on 3 July 2016. The Company's affairs have not been successful in recent years due to the impact of the Corona virus and the company has been placed in liquidation.

On liquidation the company has debts of $1,650,000 and assets estimated by the liquidator to be worth only $1,100,000. The company's bank holds a debenture over the company's headquarters building and stock. The unsecured creditors look likely to receive only a small proportion of the amounts owing to them.

The liquidator asks you to explain what types of transactions could be avoided by him under s588 of the Corporations Act in order to increase the fund available to distribute amongst the unsecured creditors, it being clear that on the sale of the company's assets there would not be enough to discharge all debts to creditors.

The liquidator also asks you to explain what types of failings on the part of the directors of the company would entitle him to institute actions against individual directors for breach of their statutory duty to the company.

Required

Consider the questions posed by the liquidator and give your advice based upon sections of the Corporations Act 2001 (Cth) and relevant case law.