Facts: The case concerned 2 dividend payments (the Interim Dividend and Final Dividend) made by DSHE Holdings (in liq) (previously "Dick Smith") (DSH) in 2015 prior to being placed into voluntary administration in 2016. The receivers of DSH caused DSH to commence proceedings against DSH directors on the basis the directors had breached their duties under s 180 Corporations Act by voting in favour of those dividend payments having regard to the financial position of DSH at the time. The receivers considered the payment of the dividends had materially prejudiced DSH’s ability to pay its creditors.
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