This week’s TGIF considers the decision of AIG Australia Limited v Kaboko Mining Limited [2019] FCAFC 96, in which the Full Federal Court found that an insolvency exclusion in a D&O policy did not apply to exclude claims brought against directors and officers of a company under external administration.

What happened?

This week’s TGIF considers the decision in Aardwolf Industries LLC v Riad Tayeh [2020] NSWSC 299, in which the Supreme Court of New South Wales refused an application for leave to sue court-appointed liquidators for damages for negligence and misleading and deceptive conduct.

Background

This week’s TGIF considers the decision in Dudley (Liquidator) v RGH Construction Fitout & Maintenance Pty Ltd (No 2) [2019] FCA 1355, where the Court exercised its discretion to cure a procedural irregularity in a mothership proceeding.

This week’s TGIF considers Re GGA Lifestyle Pty Ltd (Administrators Appointed); Ex Parte Woodhouse [2019] 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.

What happened?

This week’s TGIF considers the decision in Strawbridge (Administrator), in the matter of CBCH Group Pty Ltd (Administrators Appointed) (No 2) [2020] FCA 472 where the Federal Court made orders absolving the administrators of retailer Colette from personal liability for rent for a two week period, due to the COVID-19 pandemic.

This week’s TGIF considers the Federal Court’s decision of In the matter of Boka Beverages Pty Ltd (In Liquidation) [2019] FCA 1184, regarding an application for the appointment of special purpose liquidators.

What happened?

This week’s TGIF considers the recent case of Halifax Investment Services Pty Ltd (In liquidation) (No 4) [2019] FCA 604 where the Federal Court granted an application by liquidators of a company to electronically publish notices required to be sent to creditors as part of their initial reporting obligations in a winding up, to save costs and time, in cir

This week’s TGIF examines the recent changes to Australia’s insolvency regime, the potential implications for business and considerations for creditors in light of the impact from COVID-19.

The Australian Government has now passed theCoronavirus Economic Response Package Omnibus Bill 2020. The bill was fast-tracked through both houses of parliament with bipartisan support on 23 March 2020 and makes significant changes to Australia’s insolvency regime over the next six months.

What happened?

This week’s TGIF considers the decision in ACN 093 117 232 Pty Ltd (In Liq) v Intelara Engineering Consultants Pty Ltd (In Liq) [2019] 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.

What happened?

This week’s TGIF considers the decision in Erskine as liquidator of North Shore Property Developments Pty Ltd (in liq) v 72-74 Gordon Crescent Lane Cove Pty Ltd [2019] FCAFC 62, where a determination was upheld that Courts should not go behind a deed of release entered into by a liquidator without a valid basis for doing so.