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Determine if transaction voidable as unreasonable director

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A director of a company who is also the 100% shareholder obtains loan of $40,000 from the company and claims that the loan is forgiven on the 24th of December by providing a letter stating that the loan is forgiven by the company and signed by himself. The company goes into liquidation on 25th July 2019.

Problem 1: Determine if this transaction is voidable as unreasonable director related transaction subject to which sections of the Australian corporations act 2001

Reference no: EM132987394

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