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Who is the noteholder and who is the creditor

Introduction

Towards the end of 2020, while businesses were reeling from the challenges of grappling with a global pandemic, the end of the Brexit transition period and LIBOR transition, the Law Commission published a paper analysing the current law underlying intermediated securities - Intermediated securities: who owns your shares? A Scoping Paper.

European Union, France, United Kingdom, Company & Commercial, Insolvency & Restructuring, Public, Stephenson Harwood LLP, Brexit, Libor
Australian court opens door to Chapter 11

Introduction

Australia, USA, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Public company, Debtor, Australian Securities Exchange
Bankrupt New Zealander bankrupted in Australia

Introduction  

Another failed property developer has just been made bankrupt in Australia, this time with a difference – he was already bankrupt in New Zealand. Bank of Western Australia (Bank) v David Stewart Henderson (No. 3) [2011] FMCA 840 is another Australian cross-border insolvency case in which we have successfully tested the boundaries of the Cross-Border Insolvency Act 2008 (Cth) (the CBIA), this time with the Bankruptcy Act 1966 (Cth).

Australia, New Zealand, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Bankruptcy, Debtor, Common law, Prejudice, UNCITRAL, Trustee
New Zealand liquidators recognised in Australia

Introduction

New Zealand liquidators have had their powers recognised in Australia in a series of recent ground-breaking judgments.

These decisions in respect of Northern Crest Investments Limited, a New Zealand registered company listed on the ASX, demonstrate the broad powers which the courts are willing to provide to foreign representatives under the Cross-Border Insolvency Act 2008 (Cth) (the CBIA).

Obtaining powers of Australian liquidators

Australia, New Zealand, Capital Markets, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Liability (financial accounting), Witness, Liquidator (law), Australian Securities Exchange, Corporations Act 2001 (Australia), Federal Court of Australia
Insolvency reform: more equity for directors and less equity for shareholders?

Summary

In an exciting week for insolvency, the Minister for Financial Services, Superannuation and Corporate Law has released a package of reforms to Australia’s corporate insolvency laws. This reform package includes:

Australia, Insolvency & Restructuring, Norton Rose Fulbright, Shareholder, Unsecured debt, Class action, Debt, Duty of care, Moratorium, Business judgement rule, Corporations Act 2001 (Australia)