Australia

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Australia’s Ten Network Future in Doubt as Debt Backers Pull Out

The future of Australia’s Ten Network is in doubt after big shareholders, including Lachlan Murdoch, son of News Corp founder Rupert Murdoch, decided not to back a financial restructuring of the struggling broadcaster, the Financial Times reported. F ...

Daily Headline - global.abi.org - 06/13/2017 - 21:59 - 0 comments

Macquarie Hired to Find Investor for Insolvent SolarWorld

Australian investment bank Macquarie has been hired to find an investor for insolvent German solar panel maker SolarWorld, the company's insolvency administrator said on Thursday, Reuters reported. SolarWorld, once Europe's biggest solar power ...

Daily Headline - global.abi.org - 06/01/2017 - 21:44 - 0 comments

Ranking and Priority of Creditors

After the first two Volumes on Commencement of Insolvency Proceedings (2012) and the Treatment of Contracts in Insolvency (2013), Ranking and Priority of Creditors is the third Volume of the Oxford University Press’ International and Comparative Insolven ...

Resource Article - twallace@abiwor... - 04/25/2017 - 10:55 - 0 comments - 1 attachment

CLIENT UPDATE: IPSO FACTO CLAUSES, SAFE HARBOUR FOR DIRECTORS – OUR COMMENTS ON THE DRAFT EXPOSURE LEGISLATION

Australian insolvency law has two features which are widely recognised as making it harder to save and restructure businesses in financial difficulty. Voluntary administration is a formal mechanism designed to assist in reconstruction. But if a company e ...

Resource Article - twallace@abiwor... - 04/25/2017 - 10:47 - 0 comments - 0 attachments

Is hourly billing for liquidators back?

In brief: The NSW Court of Appeal has recently considered the basis on which liquidators' 'reasonable remuneration' should be determined. Partner Chris Prestwich (view CV), Senior Associate Przemek Kucharski and Lawyer Kane Kersaitis repor ...

Resource Article - twallace@abiwor... - 04/18/2017 - 12:20 - 0 comments - 0 attachments

E-Storage Updater 4th Edition

In this 4th edition of the E-Storage Updater, our global team looks back on 2016, plus technology and regulatory news highlights for the last quarter. Click here for more. (Australia, Costa Rica, United Kingdom) bankruptcy,insolvency,head ...

Resource Article - twallace@abiwor... - 02/14/2017 - 15:08 - 0 comments - 0 attachments

Arbitration in Australia

Dylan McKimmie, a partner in our Perth office, discusses the impact of recent amendments to the Australian International Arbitration Act and judicial decisions which make the framework for arbitration in Australia more pro-enforcement. Click here for ...

Resource Article - twallace@abiwor... - 02/08/2017 - 13:52 - 0 comments - 0 attachments

Cracks Are Appearing in Australia’s Trillion-Dollar Debt Pile

The Reserve Bank of Australia frequently seeks feedback on the health of the economy. It might want to call the debt counselors soon. Homeowners, consumers and property investors around Australia are making more calls to financial helplines as three warn ...

Daily Headline - global.abi.org - 02/07/2017 - 22:32 - 0 comments

Macquarie Said Planning Split, Not Strip, for U.K. Green Bank

U.K. Green Investment Bank Plc, the state lender put up for sale by the government, will be dramatically restructured if it’s sold to Macquarie Group Ltd., according to two people familiar with the matter, Bloomberg News reported. Australian bank Macquar ...

Daily Headline - global.abi.org - 01/26/2017 - 22:30 - 0 comments

Australian Unemployment Rate Climbs as More Join Search for Work

Australia’s economy added jobs in December, although not enough to prevent the unemployment rate edging up as participation in the workforce increased, Bloomberg News reported. December’s data caps a volatile year for Australian jobs, as declining partic ...

Daily Headline - global.abi.org - 01/18/2017 - 22:46 - 0 comments

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