Pretium Funding has funded many different types of claims open to Liquidators. Some of these include (but are not limited to):
Unfair Preference Claims
These are claims by a liquidator to recover amounts paid by the company to its creditors (a director can also be a creditor) within certain time periods prior to liquidation, and which have the effect of providing that creditor with a payment greater than they would have received had the company been liquidated and the creditor received a dividend in the liquidation.
Unreasonable director-related transactions
These claims arise when a transaction is entered into by a director or close associate
of the company, in circumstances where it may be expected that a reasonable person in the company’s circumstances would not have entered into the transaction.
These claims may arise in circumstances where a loan to a company is unfair and meets either of the following tests
(as set out in s 588FD of the Corporations Act 2001 (Cth)):
The interest on the loan was extortionate when the loan was made, or has since become extortionate because of a variation; or
The charges in relation to the loan were extortionate when the loan was made, or have since become extortionate because of a variation, even if the interest is, or the charges are, no longer extortionate.”
Uncommercial Transaction Claims
These are claims by a liquidator in respect of company transactions that a reasonable person in the company’s circumstances would not have entered into.
Insolvent Trading Claims
These are claims by a liquidator against directors for amounts equal to debts incurred by a company (and unpaid) whilst it was insolvent.
Director Loan Account Claims
These are simply claims by the company for recovery of debts owed by the director to the company.
Breach of Directors Duties
Directors owe many duties to the company, and a company (by its liquidator) may bring claims against the director for breaches of any of those duties.
These claims arise when there is a debt owing to the company by an independent third party.