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For the first time in Australia, the District Court of Queensland has squarely held that such a defence is available to unfair preference claim defendants. In the recent decision of Morton v Rexel Electrical Supplies Pty Limited (Morton), Sydney law firm Polczynski Lawyers succeeded in establishing a new defence to unfair preference claims that, if accepted by other courts, has the potential to significantly reduce the scope for such claims.
Polczynski Lawyers satisfied the Australian court that a defendant to an unfair preference claim should be allowed to "set off" the preference claim against them against the balance of the debt owed to them by the debtor. So, if still owed a debt of $100,000 and faced with an unfair preference claim of $100,000, the defendant may say that one claim cancels out the other, leaving no net debt at all.
For more information please contact Stephen Polczynski, Polczynski Lawyers on SPolczynski@plawyers.com.au
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