New insolvency reforms to support small business recovery proposed to commence from 1 January 2021

The recently announced proposed insolvency reforms draw on key features from Chapter 11 of the Bankruptcy Code in the United States and aim to help more small businesses restructure and survive the economic impact of COVID-19.

The reforms will cover around 76% of businesses subject to insolvencies today, 98% of whom have less than 20 employees.[1]

Filed under:
Australia, Capital Markets, Insolvency & Restructuring, Gadens, Coronavirus, Title 11 of the US Code
Authors:
Scott Couper
Location:
Australia
Firm:
Gadens
Liquidators in the ongoing Queensland Nickel Pty Ltd (In Liquidation) litigation fail to recover $102 million but are successful in their uncommercial transaction claims

In Parbery & Ors v QNI Metals Pty Ltd & Ors[1] the Court held, amongst other things, that:

Filed under:
Australia, China, Queensland, Insolvency & Restructuring, Litigation, Gadens
Authors:
Scott Couper
Location:
Australia, China
Firm:
Gadens