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How does s 588FA apply to the granting of a security interest over an unsecured debt?
被引：0
|作者：
Sise, Peter
[1
]
机构：
[1] Clayton Utz, Sydney, NSW, Australia
来源：
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D O I：
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中图分类号：
D9 [法律];
DF [法律];
学科分类号：
0301 ;
摘要：
Converting an unsecured debt into a secured debt instinctively seems like it could be an unfair preference since it advantages one creditor over others. However, one of the requirements for an unfair preference stipulated in s 588FA is that the preferential dealing be "in respect of an unsecured debt". This may present a difficulty for the simple reason that the debt is no longer unsecured after it has been converted into a secured debt and hence the preferential dealing is not "in respect of an unsecured debt". This article considers the history, text and policy of s 588FA and argues that the words "in respect of an unsecured debt" present no obstacle to the conversion of an unsecured debt into a secured debt constituting an unfair preference.
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页码：59 / 68
页数：10
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