Prepare an analysis of a current (published after 1 June 2019) Australian newspaper/media article that relates to an aspect (topic, area, issue) of the material covered from Lecture 4 forward–(maximum...

Insolvent trading
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Contents
Topic: insolvent trading and company chosen is Macro Group of Companies    3
Introduction    3
Compulsory winding up in insolvency    3
Non-compliance with the statutory provisions under s459G and s459 J (1)    4
Pari passu rule    4
Relation back day and its provisions    4
Conclusion    4
References    5
Topic: insolvent trading and company chosen is Macro Group of Companies
Introduction
The present assignment focuses on the insolvent trading and there are two ways how the company may be winding up. Under ss459A and 459P, there is winding up in insolvency and winding up on the basis of other grounds like not in the case of the insolvency is mentioned under s461 for example, oppressive conduct. This is a court ordered winding up of the company in the case insolvency of trade takes place. Next, is mentioned under voluntary winding up of the company that includes creditors winding up for an insolvent company and the term insolvent company includes the traders too. The creditors winding up may arise when the directors are not able to complete the declaration of the solvency and in this course of time; the liquidator is appointed by the company in the general meeting so held there. It is appointed for the winding up and distribution under s499. Whitford (2018) At the meeting the decision is made in respect to see the company’s future, which is under the voluntary administration that is mentioned under s439A and under s439C the creditors vote to wind up the company. There is also some other provisions that are followed under the trading insolvency.
Compulsory winding up in insolvency
According to s95A, it sets the provision that law permits the person to be solvent when one is able to pay the debts and when the case is like pay becomes due or payable, then in the opposed case the insolvency occurs which would be the violation of the provisions of the mentioned section. There are some parties that may challenge the decision and may file the petition in the court of law including creditors, company; members and ASIC including the director. When in any...