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...
As many companies are required to lodge annual financial statements this month, we hope this note serves as a timely reminder to ensure that your company is meeting its ongoing obligations under...
We are delighted to launch the first edition of our Insolvency & Restructuring Case Summaries for 2021-2022, with over 45 case summaries highlighting the key takeaways and the practical...
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.
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).
On 17 May 2019, the Federal Court approved the scheme of arrangement between Angas and its Debenture Holders.
Dealing with the important question of a receiver’s obligation to retain money for post-appointment tax liabilities.
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...
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...
Regarding the introduction of legislation creating a stay on enforcement of ipso facto clauses: the devil was always going to be in the detail.
JWS has achieved an excellent result for the liquidators of the Gunns Group, with success in the Federal Court’s judgment in Bryant (Liquidator) v L.V. Dohnt & Co Pty Ltd, In the Matter of Gunns...
The amendments to the Corporations Act1 to broaden the ‘safe harbours’ for directors on an insolvency were passed by Parliament on 12 September 20172 and are awaiting a date for commencement.
On 12 September 2017, some of the most significant reforms of Australia’s corporate insolvency laws in recent years were passed by both Houses of the Australian Federal Parliament. These reforms...
A spate of recent decisions approving liquidators’ remuneration on an ad valorem basis had caused some trepidation amongst insolvency practitioners facing the prospect of court fee approval.
The High Court of Australia recently considered two issues relating to a liquidator's power to disclaim a lease granted by the company in liquidation. The first issue was whether a lease is a...
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...
Following the 1997 decision in Re Emanuel (No 14) Pty Ltd, it became clear that payment by a third party (C) of an unsecured debt due by A to B could be classified as an unfair preference in...
On 5 July 2011, the Federal Government released the Tax Laws Amendment (2011 Measures No. 7) Bill 2011: companies' non-compliance with PAYG withholding and superannuation guarantee obligations (the
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...