Interesting From The US

Amidst all the hype and hoo-hah of the US Presidential election along with the post inauguration debates on who can do what, and who can’t. Including the potential realisation that there may well be American laws written that are devoid of judicial review, and thus outside of the ability of a Court to ‘correct the … Continued

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It’ll be a joke

Today I have signed off on the closure of one of our corporate windings up, and in light of the recent proposed changes to the Bankruptcy Act, I feel compelled to tell the story publicly. The story begins with a group of Chinese investors who decide to establish a small chain of entertainment venues in … Continued

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Protection to Administrators acting in the best interest of Creditors

In a recent Supreme Court of NSW Decision, Renex Holdings (Dandenong) 1 Pty Ltd (Administrators Appointed) & Others [2015] NSWSC 2003, Justice Black once again adopted a very practical and encouraging approach whereby he confirmed that Administrators may be protected from personal liability for post appointment debts. The background to the Administration was that Renex’s … Continued

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Insolvency Law Reform Act 2016- A carrot and stick approach to the Insolvency System

After more than two years in the making, the Insolvency Law Reform Act (“ILRA”) has finally passed into law with a commencement date expected early in 2017.  As many of the industry would (or should) be aware, the ILRA comprises the latest series of reforms prompted largely by a perceived lack of integrity and transparency … Continued

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Forge’s Failure led to the Delivery of a $50M Windfall

In the recent decision of Forge Group Power Pty Limited (“Forge Group”) (in Liquidation) (Receivers and Managers appointed) v General Electric International Inc [2016] NSWSC 52 (GE), the Court’s decision provided some useful guidance on the interpretation of what is a PPS  lease and when the title in leased goods vests in the event of … Continued

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Insurer’s Liability to Third Parties

The High Court Decision in the case of CGU Insurance Limited v Blakeley & Ors (2016) HCA2 details the circumstances in which a Liquidator as a  third party claimant can directly pursue the insurers of insolvent defendants. In these proceedings, the Liquidators applied to the Court to join CGU as a Defendant and to amend … Continued

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