Splendid Homes Ltd (the Company) was incorporated on 3 July 2016. The Company's affairs have not been successful in recent years and the company has been placed in liquidation. The liquidator asks you to explain what types of transactions could be avoided in order to increase the fund available to distribute amongst the 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 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.