Searching Content indexed under Insolvency/Bankruptcy by DLA Piper Australia ordered by Published Date Descending.
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Courts Nail Down Some Vexing Issues - who defends an insolvent insured?
Insurers face difficulties when, having denied indemnity to an insolvent insured, it is joined to proceedings by a third party.
15 Apr 2013
Bankruptcy stay issues in insured D&O (Directors and Officers Liability Insurance) claims
An insurer should be granted relief from stay where the proceeds of the policy are clearly not property of the estate.
United States
6 Apr 2013
Doing Business in Australia - Business Practices
Federal and state laws and regulations in Australia combine to influence how business practices are conducted.
30 Apr 2012
Liens - the 'outlaws' of personal property security
This Update highlights two recent cases that considered circumstances where liens could take priority over a registered security interest.
1 Sep 2011
Practical guidance for trade creditors in an administration
The appointment of administrators to Whitcoulls in New Zealand will have prompted trade creditors and suppliers of Whitcoulls – and other companies – to consider their position during an administration. Administration provides the company with ‘breathing space’ during which the company’s viability can be assessed by the administrator.
16 Mar 2011
Personal Property Securities (PPS) - Where is this reform at and what should you be doing to ensure you are PPSA compliant?
Review of the significant activity over the last two months in relation to the upcoming Personal Property Security (PPS) laws to be introduced in Australia
27 Jan 2010
Personal Property Securities Bill 2009 - Release Of Final Senate Committee Report
The Senate Committee on Legal and Constitutional Affairs (Committee) recently conducted an inquiry into the 2009 Bill.
27 Aug 2009
Personal Property Securities Bill 2009
On 19 March 2009 the Senate Committee on Legal and Constitutional Affairs (Committee) released its recommendations on the Exposure Draft of the Personal Property Securities Bill 2008 (2008 Bill) following its inquiry on the 2008 Bill, which itself was a revised version of an earlier draft Bill which had been prepared and released for discussion in May 2008.
18 Aug 2009
Recession - Facing The Challenge
The current economic conditions are creating challenges for all of us. The biggest challenges are likely to arise out of what we cannot control, for example, our suppliers, our customers, our landlords, our tenants and our financiers. Their behaviour is largely outside our influence.
New Zealand
5 Mar 2009
Guarding Against Insolvency: Procurement In An Economic Downturn
The current global financial crisis has increased the risk of insolvency for many businesses.
18 Feb 2009
Shareholder Claims Against Insolvent Companies
Corporations and Markets Advisory Committee (CAMAC) upholds decision ranking shareholder claims equally with unsecured creditors.
10 Feb 2009
Warning To Sleeping Directors: Liability For Reckless Trading Is Costly!
To those directors not actively engaged in the management of or with an eye on the financial affairs of their company - beware. The recent quantum decision of the High Court in Mason v Lewis [2008] NZHC 1535, following the earlier decision of the Court of Appeal on liability, provides a strong warning for sleeping directors.
21 Jan 2009
D&O: Severability & Non-Avoidance
The case, Martin John Green in his capacity as liquidator of Arimco Mining Pty Limited (in liquidation) v CGU Insurance Limited & Ors [2008] NSWSC 825, has a little something for everyone interested in Australian D&O.
20 Oct 2008
High Court Confirms The Importance Of Registering A Security Interest
On 21 November 2007, Justice Stevens of the High Court, confirmed the importance of a supplier of goods registering a purchase money security interest under the Personal Properties and Securities Act 1999 to obtain a ‘super priority’ over a secured creditor.
New Zealand
20 Jan 2008
Working With Voluntary Administration - Is It Just A Safe Haven For Directors?
A recent court decision in Australia highlights how directors can be held financially liable for insolvent trading despite entry into a deed of company arrangement. The decision also highlights a possible gap in New Zealand's voluntary administration legislation.
New Zealand
17 Jan 2008
Leave Required Before First Voluntary Administration In New Zealand
The new Voluntary Administration regime commenced in New Zealand on 1 November 2007, and got off to an eventful start.
New Zealand
15 Jan 2008
Insolvency Law In 2007 – Where Are We Headed?
There have been a number of significant developments in the corporate and personal insolvency sectors over the past quarter. The Sons of Gwalia litigation has been resolved, at least as far as the Courts are concerned, the Bankruptcy and Superannuation Amendment Bill appears to have been given the green light by the Senate and the long awaited amendments to Chapter 5 of the Corporations Act have been released in draft.
9 Mar 2007
The Importance Of A Healthy Relationship – How Marriage Breakdown Can Impact Lenders And External Controllers
Although many lenders and external controllers would be unaware, since 17 December 2004, all loan transactions and external administrations involving a person married under Australian law, have been conducted subject to the provisions contained in Part VIIIAA of the Family Law Act 1975 (FLA).
2 Nov 2006
When An Administrator Or Liquidator’s Casting Vote Does Not Count
On 8 August 2006, a New South Wales court found that an administrator could not use his casting vote to pass resolutions for the approval of his own fees, being resolutions from which he stood to financially benefit.
22 Sep 2006
What Will The Court Take Into Account When Considering A Debtor’s Proposal To Avoid Bankruptcy?
The recent judgment of Whimp v the OA as liquidator of Roseneath Developments Limited, Associate Judge Christiansen, provides a comprehensive summary of the court’s jurisdiction to refuse a debtor’s proposal under Part XV of the Insolvency Act.
New Zealand
22 Sep 2006
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