pif related news, page-100

My regular Google search found another couple of interesting websites.

8th Annual Practical Insolvency Gala and Dinner (31Mar-2Apr)http://www.traillassociates.com.au/reg/files/Insolvency_Conf_Programme.pdf

"5A. ATO Garnishee Notices
While I was researching section 260-5 notices I came across a couple of interesting judgments involving the surrender of security.
Section 260-5 notices (the former section 218 notices) are the administrative means by which the ATO can transform itself from an unsecured, to a secured creditor, without preference risk, to the detriment of all other unsecured creditors. Philip will review a number of recent cases in which such notices
have featured:
• Brown v Brown (2008).
• Re Bruton Holdings (2007) and 2008
• Uratoriu v The Commissioner of Taxation (2008)
• Re Octaviar Ltd (2008)
And ponder on some of the difficult issues they give rise to:
• How (but more critically) when is a section 260-5 fixed charge created?
• The commissioner has said he will not rely on the 2008 Bruton decision – but what does that
mean for practitioners?
• Will automatic crystallisation defeat a 260-5 notice?
• Can the insolvent transaction regime be used to overturn the creation of the charge?
• What is the effect of section 468 on the creation of a section 260-5 fixed charge?"

During the Road Show JH noted that PIF had equal footing to the other major creditors, including the ATO ($60). Probably technically correct at the time, but she made no mention of the S260-5 notices. Ouch. I guess the Cth needs the $ to pay for the inquiry into why my financial advisor put me into PIF.