New CGT withholding measures from 1 July 2016

Snapshot

Filed under:
Australia, Banking, Insolvency & Restructuring, Real Estate, Tax, Herbert Smith Freehills LLP
Authors:
Peter A. Smith , David John , Mark Clifton
Location:
Australia
Firm:
Herbert Smith Freehills LLP
Secured creditors are entitled to a priority over preference claim recoveries where employee entitlements have been paid out of secured assets

In brief

The recent decision of Divitkos, In the matter of Ex DVD Pty Ltd (In liquidation) has paved the way for secured creditors who pay employee entitlements out of secured assets to receive a priority for that payment from preference claims recovered in a subsequent liquidation.

Summary

Filed under:
Australia, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Liquidation, Secured creditor
Authors:
David John
Location:
Australia
Firm:
Herbert Smith Freehills LLP
An important decision for liquidators of trustee companies – there is a power of sale

In brief

Filed under:
Australia, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Liquidation, Liquidator (law), Trustee
Authors:
David John
Location:
Australia
Firm:
Herbert Smith Freehills LLP