Insights

Linc Energy – High Court refuses special leave to Qld State Government

The High Court has refused to grant the Queensland State Government (Qld Government) special leave to appeal the Queensland Court of Appeal’s March 2018 decision in favour of the liquidators of...

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First hurdle cleared for safe harbour and related laws

Members of the Senate have temporarily put aside considerations of postal votes, plebiscites and dual citizens to approve the safe harbour and related laws.

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Linc Energy (In Liq): Liquidators obliged to prioritise State environmental laws despite disclaimer

The decision of Jackson J has wide-ranging consequences for the insolvency industry, as the outcome effectively relegates (at least in QLD) liquidator remuneration, employee entitlements and all...

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Reforms for Restructures

(Also titled Reforms for Restructures in Australia) The Australian Federal Government has released the Exposure Draft for the much anticipated introduction of: A safe harbour for company directors...

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Insolvency practitioners take note - proposed amendments to regulation of the insolvency profession

The Federal Government recently released the draft Insolvency Law Reform Bill 2013 (Reform Bill) for public comment. The Reform Bill contains a number of changes to the way that insolvency...

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Corporations (Sons of Gwalia) Bill 2010

The Corporations (Sons of Gwalia) Bill was passed by Parliament on 26 November 2010, an awaits Royal assent. The Bill will reverse the effect of the Sons of Gwalia Case by subordinating the claims...

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Do you supply goods on a retention of title basis? The PPSA Act is coming!

Today, as a 'retention of title' (ROT) supplier of goods you can rely upon your ownership of the goods as adequate protection against the insolvency of your customer. However, once the Personal...

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Going above and beyond: s 439A report leads to removal of liquidators

In Independent Cement and Lime Pty Ltd v Brick and Block Company Ltd (in liquidation) (receivers & managers appointed) [2010] FCA 352, Justice Finkelstein considered the duty of voluntary...

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Recovery of cost of proceedings denied as a result of belated s477(2B) applications

In circumstances where the number of retrospective applications made by liquidators under section 477(2B) of the Corporations Act for Court approval to enter into agreements of more than 3 months...

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