In a historical first female majority High Court Judgment, Bryant v Badenoch Integrated Logging Pty Ltd[1]saw all seven Judges unanimously uphold the decision to abolish the Peak Indebtedness Rule, and set in place the starting point for calculation of “all transactions” in a “running account”.

In the recent decision ofBadenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers appointed) [2021] FCAFC 64,the Full Court of the Federal Court of Australia abolished the use of the peak indebtedness rule in A