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The liquidation of Penrice Group

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A King & Wood Malleson's team, led by Samantha Kinsey, recently finalised the Penrice Liquidation case, on which the team had worked with McGrath Nicol since 2017.

Prior to liquidation, Penrice had traded while insolvent for 9 months, resulting in an increased liability and a more difficult environment for the group's creditors.

The case included 11 unfair preference payment claims, recovering a total of $5.5 million including the recovery of $1.2 million by the Australian Tax Office.

In addition to the unfair preference payment claim there was also an insolvent trading claim against the Penrice's' directors, which was funded by the Fair Entitlements Guarantee.

Watch the video for more detail about these claims came together.

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