In the current environment of heightened geopolitical tension, including the effective closure of the Strait of Hormuz and impacts on regional oil and gas infrastructure, global supply chain disruption and volatility in energy markets, force majeure provisions are more important than ever.

The Federal Court of Australia recently handed down a landmark judgment against a third party adviser for devising an asset-stripping scheme and breaching the creditor-defeating disposition provisions of the Corporations Act 2001 (Cth).