This week’s TGIF considers a recent case where the Supreme Court of Queensland rejected a director’s application to access an executory contract of sale entered into by receivers and managers on the basis it was not a ‘financial record’

Key Takeaways

This week’s TGIF looks at the decision of the Federal Court of Australia in Donoghue v Russells (A Firm)[2021] FCA 798 in which Mr Donoghue appealed a decision to make a sequestration order which was premised on him ‘carrying on business in Australia' for the purpose of section 43(1)(b)(iii) of the Bankruptcy Act 1966 (Cth) (Act).

Key Takeaways

This week’s TGIF considers an application to the Federal Court for the private hearing of a public examination where separate criminal proceedings were also on foot.

Key takeaways

This week’s TGIF looks at a recent decision of the Victorian Supreme Court, where a winding up application was adjourned to allow the debtor company to pursue restructuring under the recently introduced small business restructuring reforms.

Key takeaways

In a recent judgment on directors’ liability (Bundesgerichtshof, 18 November 2020, IV ZR 217/19), the German Federal Court of Justice (Bundesgerichtshof) has clarified the scope of D&O insurance coverage, holding that company directors are entitled to its protection.

Background

Was ist zu beachten?

Die Pandemie trifft die Wirtschaft mit voller Wucht und ein Ende ist weiterhin nicht absehbar. Um eine ungeordnete Insolvenzwelle zu vermeiden, hat der Gesetzgeber schnell reagiert und mit dem am 27. März 2020 in Kraft getretenen COVID-19-Insolvenz-Aussetzungsgesetz (COVInsAG) die Insolvenzantragspflicht zunächst bis zum 30. September 2020 suspendiert. Per Verordnung kann die Suspendierung bis zum 31. März 2021 verlängert werden.

Die Hotelindustrie gehört zu den Branchen, die von der Corona-Krise am schwersten getroffen werden. Mitunter geht es um das schlichte Überleben der betroffenen Unternehmen. Wir möchten Ihnen in einem interdisziplinären Webinar einige der drängendsten Fragen beantworten, die Ihnen helfen sollen, durch diese herausfordernde Zeit durchzukommen.

Folgende Themen stehen im Fokus des Webinars:

This week’s TGIF takes a look at the recent case of Mills Oakley (a partnership) v Asset HQ Australia Pty Ltd [2019] VSC 98, where the Supreme Court of Victoria found the statutory presumption of insolvency did not arise as there had not been effective service of a statutory demand due to a typographical error in the postal address.

What happened?

This week’s TGIF examines a decision of the Victorian Supreme Court which found that several proofs had been wrongly admitted or rejected, and had correct decisions been made, the company would not have been put into liquidation.

BACKGROUND

This week’s TGIF considers a recent Federal Court decision which validated dispositions of property made by a company after the winding up began.

WHAT HAPPENED?

On 8 May 2017, Bond J ordered that a coal exploration company (the Company) be wound up on just and equitable grounds following a shareholder oppression claim. So as to avoid the consequences of a liquidation, his Honour immediately stayed that order for a period of 7 days to enable the warring parties a final chance to resolve their differences.