Questions to answer (multiple choice)

Question 2 1 pts Which of the following is not one of the ways in which the company's property is protected during voluntary administration? O No secured creditors can enforce their security while the company is under administration. There are restrictions on the winding up of the company. O Legal proceedings cannot be brought against the company unless the administrator or the court agrees. O Owners of property leased by the company cannot recover their property unless the administrator or the court agrees. Flag question: Question 3 Question 3 1 pts What are the sources of the receiver's authority and duties? O The receiver is the company's agent. O The receiver is the fiduciary of the company. O The receiver is the fiduciary of the secured creditor who appoints them. O The receiver is an officer of the company. O All of the above. Flag question: Question 4 Question 4 1 pts Which of the following was not one of the goals of Parliament in introducing the voluntary administration provisions in 1993? To maximise the chance of the company continuing in business. To minimise the disruption to customers and suppliers of the company. O To maximise the return to the company's creditors on liquidation. To maximise the return to the company's members on liquidation.Flag question: Question 5 Question 5 1 pts Which of the following parties are not bound by the terms of a deed of company arrangement? The directors of the company. The shareholders of the company. The unsecured creditors who voted against the deed. The administrator. O None of the above. Flag question: Question 6 Question 6 1 pts In some circumstances, a party to certain types of voidable transactions is protected from a court order. Which of the following is not one of the exceptions to a voidable transaction between the company in liquidation and X, according to s 588FG(2) Corporations Act 2001 (Cth) ? O X became a party to the transaction in good faith. O At the time of the transaction, Xhad no reasonable grounds for suspecting that the company was or would become insolvent, and a reasonable person in the circumstances of X would have had no reasonable grounds for suspecting that the company was, or would become, Insolvent. O At the time of the transaction, X was expressly assured by the company that it was solvent. O X provided valuable consideration under the transaction or changed their position relying on the transaction. Flag question: Question 7 Question 7 1 pts Which of the following types of funds are not available for distribution by the liquidator to creditors and members? Funds the liquidator has 'clawed back' under the voidable transaction provisions. O Funds which are held by the company on trust. O Funds received from the owners of partly paid shares after the liquidator has made a call on them. O Compensation recovered from a director who has breached the insolvent trading provision