This week’s TGIF considers a recent decision in Re HRL Limited (in liq) & Anor  VSC 693, in which the Court approved a success fee in addition to the liquidators’ remuneration calculated by the application of a time-based costing method.
This week’s TGIF looks at a recent decision of the Victorian Supreme Court, where a winding up application was adjourned to allow the debtor company to pursue restructuring under the recently introduced small business restructuring reforms.
This week’s TGIF considers the Coronavirus Economic Response Package Omnibus Act 2020, which was passed in response to the economic impact of the coronavirus. Amongst other things, the Act makes significant changes to creditor’s statutory demands and insolvent trading laws.
This week’s TGIF considers the Federal Court’s decision of In the matter of Boka Beverages Pty Ltd (In Liquidation)  FCA 1184, regarding an application for the appointment of special purpose liquidators.
This week’s TGIF considers Re GGA Lifestyle Pty Ltd (Administrators Appointed); Ex Parte Woodhouse  WASC 167, where the Supreme Court of Western Australia clarified that a voluntary administrator of a company in administration is able to claim costs of care, preservation and realisation of partnership assets of the company in administration through an equitable lien in the same way liquidators can.
This week’s TGIF considers the decision in Mujkic Family Company Pty Ltd v Clarke & Gee Pty Ltd  TASFC 4, which concerns a rather novel issue – whether a solicitor acting for a shareholder might also owe a duty of care to the company in liquidation.
In 2015, the Supreme Court of Queensland ordered that the corporate trustee of a family trust be wound up.
In September 2017, the Commonwealth Parliament passed the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Act 2017 (Cth) to amend and reform the insolvency and external administration provisions of the Corporations Act 2001 (Cth).
One of the main changes implemented by these reforms was the introduction of a ‘safe harbour’ protection for company directors.
Unlike the GFC, which was essentially a liquidity crisis, Australia is likely to face a gradual increase in business insolvencies, rather than the feared ‘insolvency cliff’, as the Federal Government’s COVID-19 stimulus measures are wound down at the end of March.
This week’s TGIF considers a recent application to the Federal Court by liquidators of the WDS Group for a pooling order.
This case concerned the WDS Group of companies.
WDS Limited (WDS) was a publicly listed company on the ASX with 11 wholly owned subsidiaries (together, the WDS Group).
This week’s TGIF considers the decision in ACN 093 117 232 Pty Ltd (In Liq) v Intelara Engineering Consultants Pty Ltd (In Liq)  FCA 1489, where the Court determined that a transaction described as a ‘legal phoenix’ by the advising practitioner was, in fact, an uncommercial transaction and an unreasonable director related transaction.