This week’s TGIF considers the Victorian Court of Appeal’s decision in Blakeley v CGU Insurance Ltd [2017] VSCA 378, which confirms the rights of third parties to seek direct access to proceeds of insurance.
The decision confirms that, in certain circumstances, third party creditors can commence proceedings against a defendant and also join the defendant’s insurers to those proceedings.
This week’s TGIF considers In the matter of ACN 151 726 224 Pty Ltd (in liq) [2016] NSWSC 1801, where the Court dismissed a creditor’s application to remove liquidators who had refused to conduct public examinations of a director.
What happened?
On 18 November 2015, the District Court of New South Wales entered judgment against Ridley Capital Holdings Pty Limited (the Company) in the amount of $660,862.62.
How far do liquidators’ powers to demand documents for public examinations extend? Which documents can they request and from whom can they request them?
In this week’s TGIF, we consider these questions in the context of the recent case of Re Cathro [2018] FCA 1138.
BACKGROUND
This week’s TGIF considers the case of Kreab Gavin Anderson (Australia) Ltd, in the matter of Kreab Gavin Anderson (Australia) Ltd (No 3) [2017] FCA 1473 and an application for approval of remuneration for work carried out by the applicants as administrators and then liquidators of the plaintiff company, in circumstances where those appointments were subsequently found to be invalid.
WHAT HAPPENED?
This week’s TGIF considers a NSW Court of Appeal decision which confirms that liquidators who bring a claim for preference payments within the limitation period may amend that claim to capture additional transactions otherwise subject to a statutory bar.
Background
Sydney Recycling Park (SRP) provided “tipping services” to Cardinal Group (Cardinal), who were in the business of “waste management”. Cardinal ran into some financial difficulties and on 1 February 2012, it was placed into liquidation.
This week’s TGIF examines a recent decision of the New South Wales Court of Appeal in Hosking v Extend N Build Pty Limited [2018] NSWCA 149, which considered whether payments made by a third party to an insolvent company’s creditors could be recovered by the liquidator as unfair preferences.
What happened?
This week’s TGIF considers what the UK decision of Simpkin v The Berkeley Group Holdings PLC [2017] EWHC 1472 means for insolvency practitioners seeking to access potentially privileged documents created by employees of appointee companies.
BACKGROUND
This week’s TGIF considers Tai-Soo Suk v Hanjin Shopping Co Ltd [2016] FCA 1404 in which the Court was required to determine the scope of a stay arising under the UNCITRAL Model Law on Cross Border Insolvency.
BACKGROUND
A Korean shipping company was subject to ‘rehabilitation’ proceedings in Korea. Rehabilitation proceedings seek to ‘rehabilitate’ insolvent debtors by restructuring their debt pursuant to a rehabilitation plan approved by the creditors and the Rehabilitation Court.
This week’s TGIF considers In the matter of MJM(WA) Enterprises Pty Ltd (in liq) [2018] NSWSC 944, where the Court approved a liquidator’s remuneration but deferred decisions about trust distributions until after the Re Amerind litigation finishes.
What happened?
The company operated two barbershops in Perth as trustee for a family trust before liquidators were appointed in May 2017.
This week’s TGIF examines a recent decision of the Supreme Court of New South Wales which considered whether payments made by a third party to a company’s creditors could be recovered as unfair preferences.
What happened?
On 2 September 2015, liquidators were appointed to a building and construction company (the Company) and later commenced proceedings against eight defendants for the recovery of payments considered to be unfair preferences.