Mondaq Australia: Insolvency/Bankruptcy/Re-structuring
Bartier Perry
A creditor who receives a payment that could be an unfair preference, may not have to refund it to a trustee in bankruptcy.
Club directors should not try to appoint an administrator to a registered club in NSW over a Christmas holiday period.
The Administrators of the Arrium Group Companies have issued a Report to Creditors covering the sale of Arrium Australia.
Kott Gunning
These recent "safe harbour" reforms substantially change the risks faced by the directors of insolvent companies.
Cooper Grace Ward
When a liquidator demands payment for an alleged unfair preference, the creditor does not always need to pay up.
Stacks Law Firm
Creditor sues for money received by bankrupt from his late mother's superannuation fund.
Control of RugbyWA has been handed back to the directors after a restructure that ends the Voluntary Administration.
Clayton Utz
Three of those unresolved obstacles to restructuring through a voluntary administration are discussed in this article.
Surry Partners
A Christmas shut down period could be dangerous for businesses, because a Creditor's Statutory Demand is time-critical.
HHG Legal Group
A 'safe harbour' protects directors to incur company debts which could have triggered a breach of insolvent trading laws.
Corrs Chambers Westgarth
Safe harbour provisions and restrictions on the operation of "ipso facto" provisions in contracts have been introduced.
Worrells Solvency & Forensic Accountants
It is important to ensure the accuracy of registering security interests for the specific type of business structure.
Worrells Solvency & Forensic Accountants
Reducing the automatic discharge to a one-year bankruptcy could encourage entrepreneurs and stimulate economic growth.
Worrells Solvency & Forensic Accountants
Some amendments included the increased rights of creditors to improve consumer confidence in insolvency practitioners. .
Worrells Solvency & Forensic Accountants
This WA decision was a fine display of pragmatism and a reminder of the voluntary administration regime's effectiveness.
Worrells Solvency & Forensic Accountants
Part 2 of this article gives some guidance on some key principles on the right of indemnity in a bankruptcy scenario.
Corrs Chambers Westgarth
Courts have a general preference for mothership proceedings prompting consideration of possible reform to court rules.
Coleman Greig Lawyers
Liquidators can recover funds acquired by creditors from an insolvent company or in some cases, from a 3rd party.
Holman Webb
A director may claim safe harbour protection, following a course of action reasonably likely to lead to a better outcome.
Cooper Grace Ward
Directors will need to carefully demonstrate compliance with the new obligations to gain benefit of the safe harbour.
Most Popular Recent Articles
Holding Redlich
From 1 July 2018, ipso facto clauses will be ineffective in the event that the other party encounters financial distress.
ClarkeKann Lawyers
PBAs are trust accounts, intended to protect down the line subcontractors from the insolvency of up the line contractors.
Worrells Solvency & Forensic Accountants
Section 588FDA of the Corporations Act provided that it was voidable as an unreasonable director-related transaction.
Corrs Chambers Westgarth
The case sets out guiding principles for insolvency practitioners to distribute trust assets, but uncertainty remains.
Corrs Chambers Westgarth
Options available to liquidators when examinee fails to appear including option of adverse costs orders if examinee appeals.
Worrells Solvency & Forensic Accountants
AFSA has recently released annual statistics, trends and also data about personal insolvency causes for the 2016-17 year.
Worrells Solvency & Forensic Accountants
This article examines challenges to the entitlement of creditors in bankrupt estates to vote at meetings of creditors.
Worrells Solvency & Forensic Accountants
The judge provided guidance on some key principles around a bankrupt trustee's right of indemnity out of trust assets.
Worrells Solvency & Forensic Accountants
A company director who receives a statutory demand for payment from a creditor must act appropriately within 21 days.
Worrells Solvency & Forensic Accountants
Some amendments included the increased rights of creditors to improve consumer confidence in insolvency practitioners. .
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