Inthe matter of Trinco (NSW) Pty Ltd (in liq) [2025] NSWSC 993, the New South Wales Supreme Court found Mr Azizi to be a de facto director of Trinco (NSW) Pty Ltd (in liq) (Trinco) and liable for insolvent trading. Trinco’s liquidator was awarded compensation, payable by Mr Azizi.
Effective January 1, 2026, the new Illinois Receivership Act will come effective to provide litigators in Illinois with expanded tools for creditors and distressed businesses to protect and manage assets during a business downturn. The Act does not apply to residential real estate with 1-6 dwelling units unless used for commercial purposes, receiverships under other laws such as the Illinois Mortgage Foreclosure Law and governmental receiverships.
In a groundbreaking decision of particular importance to participants in Chapter 15 proceedings, the United States Court of Appeals for the Second Circuit issued an opinion making clear that defendants in Chapter 15 proceedings may have Safe Harbor defenses even when a liquidator brings non-U.S. common law claims. This decision, issued on August 5, 2025 in Fairfield Sentry, holds that when a liquidator uses a US Bankruptcy Court to pursue non-U.S. common law claims, it must abide by the safe harbor afforded by Section 546(e) of the U.S.
A version of this article first appeared in the May 2023 edition of "ThoughtLeaders4 FIRE (Fraud Insolvency Recovery Enforcement) Magazine,” Issue 13.
Introduction
Written by- Thomas H. Curran, Thomas H. Curran Associates
How can businesses in your jurisdiction adopt AI and automation responsibly, and what guidance are you offering to ensure regulatory compliance?
July 2025
Petrofac Restructuring Plans Overturned, but Significant Questions Left Unanswered
Key Takeaways
Provision of new money
Executive Summary
Introduction
目次
Ⅰ はじめに
Ⅱ チャプター11とは何か
Ⅲ 取引債権者の取り扱い
Ⅳ 取引債権者が取るべき対応策
Ⅴ おわりに
I はじめに
Earlier this year, the Internal Revenue Service (“IRS”) recognized a victory in United States v. Miller. In this bankruptcy case, the trustee attempted to avoid certain transfers that shareholders of the bankrupt company had made, including a $145,000 transfer to the IRS.