the consideration paid to the company was less than the lower of the:.The Act says that a disposition of property will be a Creditor-defeating disposition if: The Court considered what the Plaintiff needed to prove to establish that the business sale was a Creditor Defeating Disposition. Intellicomms is the first reported decision dealing with section 588FDB of the Act. Tecnologie’s sole Director and Shareholder is Intellicomms’ sole Director’s sister. Intellicomms Sole Director failed to inform other Shareholders and a Creditor, Callscan Australia Pty Ltd ( Callscan) of the sale agreement that she had entered into on Intellicomms’ behalf minutes before the meeting. On 8 September 2021 (shortly after signing the business sale agreement) Intellicomms’ sole Director convened a Shareholders’ Meeting at which it was resolved to place Intellicomms into Creditor’s Voluntary Liquidation. Intellicomms provided translation services in Australia and New Zealand. On 8 September 2021 Intellicomms entered into a sale agreement with Tecnologie Fluenti Pty Ltd ( Tecnologie) under which Tecnologie bought Intellicomms’ business assets but did not become liable to pay any of Intellicomms’ creditors. We look forward to connecting with you.In the recent decision of Re Intellicomms Pty Ltd (in liq) VSC 228, the Victorian Supreme Court considered whether the sale of business assets immediately prior to Intellicomms Pty Ltd entering a Creditor’s Voluntary Winding Up was a Creditor-defeating disposition for the purposes of section 588FDB of the Corporations Act 2001 ( Act). To get started submit a quote through this website, visit the location or give us a call. If you have a space plan or office measurement – wonderful! We can utilize your floor plan to outfit your office. Our office furniture sales team can help with space planning and installation for a large office with thousands of employees to a home office. As a result, you have an opportunity to create a work space that is functional and budget friendly. In addition to our broad assortment of brand name pre-owned office furniture from Steelcase, Herman Miller, AllSteel, and Haworth the Phoenix location stocks a variety of new desk suites and chair options by goSIT. We typically have both new and used laminate and wood veneer furniture setup. The Phoenix showroom has several styles of tables, work stations, chairs, cabinets, and reception desks on display. Our chair rack houses over 200 different chairs, plus chairs staged on the showroom floor. When clients visit our Phoenix showroom, they have the ability to preview and try many furniture options. Our showroom entrance is on Grant Street, a few blocks from PHX car rental center.Į have a variety of refurbished, used and new office furniture on display, consistently adding to our selections. As we pioneered through the new and used office furniture space, the business grew quickly.Īs a result, we currently occupy a 160,000 square foot facility in downtown Phoenix on the southwest corner of 16th Street and Grant Street. In 2008 a year after opening our flagship furniture store in Chicago, IL we opened the Phoenix warehouse and distribution center. On Fridays we close at sundown or 5pm whichever comes first.
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