The operation of temporary COVID-19 relief measures for businesses in the hope of aiding distressed companies and preventing further economic breakdown will be extended until 31 December 2020.
In its recent judgment involving the PAS Group of companies , the Federal Court held that rent payable by the PAS Group during an extension of the period in which an administrator had been excused...
The Supreme Court of New South Wales has helpfully given guidance to the liquidators of the RCR Tomlinson Group on a number of unsettled questions that have challenged insolvency practitioners...
This week, the Federal Court published judgments in three unfair preference claims brought by the liquidators of the Gunns Group. We acted for the liquidators in each proceeding.
Times are changing rapidly with the current flow of Coronavirus measures introduced to support businesses in debt and distress.
The Coronavirus Response Bill provides, amongst other legislative amendments, for temporary changes of 6 months’ duration to Australian insolvency and corporations laws to assist in managing the...
This decision is an important reminder to liquidators to exercise their independent and professional judgment.
In its recent decision in the ongoing Solar Shop litigation, the Full Federal Court established two key principles which will have significant ongoing implications for the conduct of unfair...
Australia’s insolvency laws have been amended, yet again.
A recent Federal Court decision serves as a helpful reminder to liquidators about the potential availability of warrants under section 530C of the Corporations Act 2001 (Cth).
In a decision of the Federal Court handed down on 18 October 2019 in Masters v Lombe (Liquidator); In the Matter of Babcock & Brown Limited (In Liquidation) [2019] FCA 1720, Foster J held that...
The status of power of attorney clauses and “step-in rights” provisions under the Personal Property Securities Act 2009 (Cth) (PPSA) remains an issue.
How should the liquidator of an insolvent trustee company ensure payment out of trust assets of the entirety of his or her remuneration and expenses? According to the Federal Court , from the...
Australia’s insolvency laws are changing, yet again.
With significant regulatory change coming into effect the spotlight is staying firmly on culture, ethics and regulatory compliance. An organisation’s social licence to operate remains a priority...
In its much anticipated decision, the High Court has unanimously dismissed the Amerind appeal.
On 3 May 2019, the Federal Court of Australia dismissed an application brought by the administrators of an oil and gas exploration company, Paltar Petroleum Limited (Paltar) to adjourn proceedings...
On 17 May 2019, the Federal Court approved the scheme of arrangement between Angas and its Debenture Holders.
The recent sale of Black Oak Minerals Limited (Black Oak) to Ramelius Resources Limited (ASX: RMS) (Ramelius) shows that section 444GA of the Corporations Act 2001 (Cth) (the Act) can be used to...
The New South Wales Court of Appeal in a close 3-2 decision has decided that the time limit in which to sue an insurer for a failure to indemnify for property damage starts when the property damage...
Will your security interest expire on 30 January 2019?
The latest decision in the external administration of Mirabela is a reminder of the utility of the section 424 directions process for receivers, and an example of the steps to be taken in the face...
The Federal Court has confirmed that there is no difference between liquidation and deed administration of a corporate trustee in relation to dealings with trust assets and the distribution of...
The Court of Appeal - Supreme Court of Western Australia has delivered a decision confirming that a statutory set-off under s 553C of the Corporations Act can still be available to a creditor...