In this article, we unpack a case that highlights the Court's broad power to terminate security interests pursuant to s 90-15 of the Insolvency Practice Schedule (Corporations).
The High Court of Australia has upheld the New South Wales Court of Appeal decision that foreign state immunity extends to a national airline subject to a winding up proceeding. The High Court held...
We are delighted to share with you the next edition of our Insolvency & Restructuring Case Summaries. With over 45 case summaries highlighting the key takeaways and the practical implications for...
A recent decision of the Supreme Court of New South Wales in Metal Manufacturers Pty Ltd trading as TLE Electrical v WesTrac Pty Ltd [2024] NSWSC 144 (WesTrac decision) has highlighted some of the...
A recent Federal Court decision provides a useful distillation of the key principles that apply to unreasonable director-related transactions under s 588FDA of the Corporations Act.
A Federal Court decision, handed down on Friday, is a blunt reminder that the statutory limitation period in section 588FF(3) of the Corporations Act 2001 (Cth) needs to be adhered to strictly, and...
In this decision, the Court of Appeal of the Supreme Court of NSW considered the interplay between the priority regimes under ss 556 and 561 of the Corporations Act 2001 (Cth) (Act) in resolving a...
JWS represented Daniel Walley and Philip Carter of PricewaterhouseCoopers in their capacity as voluntary administrators (Administrators) of IOUpay Limited (Administrators Appointed) (Company) in an...
The New South Wales Court of Appeal has confirmed that foreign state immunity extends to a national airline subject to a winding up application.
A decision which insolvency practitioners will welcome in, Cathro, in the matter of Cubic Interiors NSW Pty Ltd (In Liq) [2023] FCA 694, the Federal Court clarified that s588FL of the Corporations...
On 8 February 2023, the High Court of Australia delivered judgment in Bryant v Badenoch Integrated Logging Pty Ltd [2023] HCA 2. JWS acted for PwC, the appellant liquidators of the Gunns group, and...
In significant news for the insolvency industry, the High Court will hear the long-awaited Gunns Group preference claim appeal in Bryant & Ors v Badenoch Integrated Logging (A10/2022) on 18 October...
On 18 August 2022 Justice Markovic of the Federal Court dismissed the application of a litigation funder and its director (the Applicants) for access to the confidential affidavit in support of...
In its recent judgment in Re Jabiru , the Supreme Court of New South Wales applied principles governing the appointment of Special Purpose Liquidators (SPL) in rejecting the Plaintiffs’ application...
In a recent Supreme Court of Victoria decision in which we acted for the successful liquidators, the Court made various orders to enable the company to complete an ultra-efficient, streamlined...
The recent Federal Court decision in Diversa Pty Ltd v Taiping Trustees Limited has highlighted some important risks faced by secured parties who don’t pay attention to the details when perfecting...
The Full Court of the High Court (Keane and Gleeson JJ) has today granted Daniel Bryant and Craig Crosbie of PwC, in their capacity as the Liquidators of the Gunns Group, special leave to appeal...
In his recent decision in Antqip Hire, Brereton JA of the Supreme Court of New South Wales concluded that section 588FL of the Corporations Act 2001 (Cth) does not operate to result in the vesting...
In a resounding judgment delivered last week, the Full Federal Court has confirmed that a statutory set-off under section 533C is not available to a defendant in unfair preference proceedings.
The Victorian Court of Appeal’s decision in The Australian Sawmilling Co Pty Ltd (in liq) v Environment Protection Authority [2021] VSCA 294 casts significant doubt on liquidators’ capacity to rely...
A sensitivity analysis can be a useful tool for assessing the likelihood of meeting earnings forecasts. But are public companies bound to disclose that analysis to the market? The Full Court of the...
In a substantial recent decision arising from the Arrium liquidation , the Supreme Court of New South Wales considered the materiality of significant future liabilities in assessing the company’s...
A hotly anticipated decision in the ongoing saga of the Babcock & Brown liquidation was handed down last week, resulting in another win for the liquidator (represented by Johnson Winter & Slattery)...
Today, the Federal Court dismissed a novel application brought by a disgruntled shareholder and minor creditor seeking to have a Special Purpose Liquidator appointed to investigate the general...
On 10 May and 24 June 2021, the Full Court of the Federal Court delivered unanimous judgments in Badenoch Integrated Logging Pty Ltd v Bryant, in which the Full Court held that the peak...