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Under the NCC, money borrowed for residential property purposes must be for the borrower’s sole use

MAG Financial and Investment Ventures Pty Ltd v El-Saafin [2022] VSCA 286

The Victorian Court of Appeal has recently held that credit provided under the National Credit Code (“the NCC”) to purchase, renovate or improve residential property for investment purposes is restricted to the immediate use of the debtor.

Australia, Victoria, Banking, Insolvency & Restructuring, Litigation, Real Estate, The Commercial Bar Association of Victoria
Expansion of electronic methods of effective service of documents in insolvency proceedings

Bioaction Pty Ltd v Ogborne, in the matter of Bioaction Pty Ltd [2022] FCA 436

Australia, Insolvency & Restructuring, IT & Data Protection, Litigation, The Commercial Bar Association of Victoria, Corporations Act 2001 (Australia)
Managing the Tax Impact of Debt Restructuring in the Wake of COVID-19

Many businesses are—or soon will be—unable to meet their obligations. Not all businesses in distress are unsuccessful; sometimes, as in the economic circumstances arising from the novel coronavirus (COVID-19) and the governmental directives tailored to address the related public health issues, even successful businesses must confront closures and steep declines in demand that could not have been anticipated, and may find it necessary or desirable to restructure their existing debt obligations.

USA, Insolvency & Restructuring, Tax, Weil Gotshal & Manges LLP, Coronavirus