The Federal Court in Brereton, in the matter of ICT Century Pty Ltd (In Liquidation) [2025] FCA 107 granted the liquidators of ICT Century Pty Ltd (in liquidation) (ICT) a one-year ‘shelf order’, or an extension of time to bring voidable transaction claims under section 588FF(1) of the Corporations Act 2001 (Cth).

The Federal Court of Australia has recently delivered judgment in the case of Deputy Commissioner of Taxation v ACN 152 259 839 Pty Ltd [2024] FCA 1489. The Court held that in some circumstances, a statutory demand can be validly served on a perceived temporarily empty company office.

On 20 May 2024, an ATO officer purported to serve ACN 152 259 839 Pty Ltd (the Company) with a statutory demand and an accompanying affidavit by leaving the documents at the Company’s registered office.

The Federal Court in Hema Maps Pty Ltd v HemaX Digital Pty Ltd, in the matter of HemaX Digital Pty Ltd [2024] FCA 1127, appointed a provisional liquidator to preserve the status quo until the determination of a winding up application. This winding up application was due to a deadlock and an irreparable breakdown in relations between shareholders, and mismanagement of the company.

Key Takeaways

The New South Wales Supreme Court has recently delivered judgment in the case of

In the matter of Bleecker Property Group Pty Ltd (In Liquidation) [2023] NSWSC 1071, appears to be the first published case that considers the question of whether an order can be made under section 588FF(1)(a) of the Corporations Act 2001 (Cth) by way of default judgment against one defendant where there are multiple defendants in the proceedings.

Key takeaways

Sam Bankman-Fried is scheduled to be tried on eight charges starting on 3 October 2023, and US District Judge Lewis Kaplan has allowed for a second trial on 11 March 2024 on a further five charges that include bribing Chinese officials and committing financial fraud. The charges centre around the alleged fraud and conspiracy to defraud crypto investors and customers in FTX and Alameda Research.

In this week’s TGIF, we consider Hutton, in the matter of Caydon Flemington Pty Ltd (Receivers and Managers appointed) (In liq) [2023] FCA 796, a Federal Court decision concerning the grant of an extension after the ‘critical time’ for the vesting of a security interest.

Key takeaways

This week’s TGIF considers In the matter of BCA National Training Group Pty Ltd (in liq) [2023] NSWSC 366, in which the priority between a liquidator’s remuneration and expenses claims and the claims of preferred creditors was clarified.

Key takeaways

This week’s TGIF concerns Kennedy Civil Contracting Pty Ltd (Admins Appt) v Richard Crookes Construction Pty Ltd [2023] NSWSC 99, in which the New South Wales Supreme Court determined that an insolvent company’s creditors could properly make a DOCA to maintain the right under security of payment legislation to recover amounts that would have been lost on entry into liquidation.

Key takeaways

With the cost-of-living crisis and a possible recession facing the UK economy, it is not surprising that government statistics show insolvencies are rising significantly, with a substantial increase on pre-pandemic levels, and up to 80% higher than the previous 12-month period.

An emerging trend within insolvencies is the recovery of crypto assets, whether the businesses are within the crypto sector, or whether it is any other entity holding value in cryptocurrencies.