THE IMPORTANCE OF BEING DIRECT "FOR THE BENEFIT OF" UNREASONABLE DIRECTOR-RELATED TRANSACTIONS.

The article discusses the liquidation process in Australia and the importance of being direct "for the benefit of" unreasonable director-related transactions under Section 588FDA of the nation's Corporations Act 2001. It states that the Victoria Court of Appeal may have widened the definition of "for the benefit of" in a case where the court expanded a liquidator's power to recover funds paid to third parties in certain circumstances. Judicial interpretations if statutes are examined.