In brief: The Supreme Court of New South Wales has given further guidance on the scope of its power to grant leave to a deed administrator to compulsorily transfer the shares of a company. The decision, in the matter of Nexus Energy Ltd (subject to deed of company arrangement) [2014] NSWSC 1910, confirms that this can be done where the transfer does not 'unfairly prejudice' shareholders. This case involved the novel context of an insolvent ASX-listed parent company with solvent operating subsidiaries.

Australia is currently discussing what reforms are required to attract investment into the agribusiness sector.

Australia is currently discussing what reforms are required to attract investment into the agribusiness sector.

In brief:The Federal Government has released its package of reforms to Australia's personal and corporate insolvency laws. Included is a draft Bill that proposes to streamline the regulatory framework applying to insolvency practitioners with the aim of increasing efficiency in external administrations and boosting confidence in the competence of practitioners.

In brief: After almost 10 years of negotiations between the nations, on 17 November 2014, Prime Minister Abbott and President Xi announced the conclusion of negotiations on the China-Australia Free Trade Agreement (ChAFTA). Once implemented, the ChAFTA is expected to significantly reduce import barriers for Australian food and dairy, resources and services sectors and create a more favourable environment for Chinese direct foreign investment in Australia.

By Maria Ratner, Clayton Utz. Provided a liquidator is acting properly in conducting proceedings or realising assets, he or she is entitled to be paid fees in priority to a secured creditor. The High Court has recently reaffirmed the principle that a liquidator is entitled to be paid his or her costs and expenses properly incurred in realising assets of a company in priority to a secured creditor.

by DLA Piper - Les Koltai, Partner Over the last 24 months, key global real estate markets have emerged from a period of severe global economic turmoil into a period of accelerated growth, fuelled by an unprecedented shift to globalisation of real estate capital, where investment is now dominated by cross-border international investors. Read more

by DLA Piper - Amelia Kelly, Partner and James Hewer, Associate The recent restructuring of Mirabela Nickel Limited is the first time under Australian law that voluntary administrators have completed a debt for equity restructuring of a listed company, using legislative provisions which allow them to sell existing shares in a company without the consent of the shareholders. The outcome should be of significant interest to all stakeholders and investors in the Asia Pacific market. Read more

by Maria Ratner, Clayton Utz The High Court has recently reaffirmed the principle that a liquidator is entitled to be paid his or her costs and expenses properly incurred in realising assets of a company in priority to a secured creditor.

A Senate Committee has said amendments to Australia's corporate insolvency laws should be considered to encourage and facilitate corporate turnarounds. The Senate Economics References Committee called for a review of Australia's corporate insolvency laws to ensure they facilitate corporate turnarounds. One suggestion was for the implementation of certain features of the US' Chapter 11 regime into Australia's insolvency laws.