A recent decision of the Supreme Court of Western Australia considered an application under Section 444GA of the Act where Administrators of a Deed of Company Arrangement sought leave to transfer the shares of an insolvent company to in circumstances where that transfer of shares would result in a return to shareholders of the insolvent company which the court referred to as “unique”.

In my December 2022 article, I predicted that when insolvencies started to surge in the Australian economy, the worst casualties would likely be in construction.¹ It’s taken a while for my predicted post-COVID day of reckoning to arrive in Australia. But it is here.