This week’s TGIF considers a recent decision of the Supreme Court of New South Wales (Forex Capital Trading Pty Ltd (in liquidation) v Invesus Group Limited [2024] NSWSC 867). Justice Ball determined that admission of a proof of debt by a liquidator was not akin to a judgment or settlement, and that such an admission did not create a new liability of the company.

In a recent decision of the Supreme Court of New South Wales (In the matter of Pacific Plumbing Group Pty Limited (in liquidation) [2024] NSWSC 525), Justice Black determined that a payment made by a third party was not an unfair preference because the payment did not diminish assets available to creditors.

Key Takeaways

一、问题的提出

债务人向债权人借款，由保证人提供保证担保。借款到期后，债务人与保证人均未偿还该笔借款。后法院裁定受理保证人的破产申请，债权人因此向保证人的管理人申报债权，要求保证人就债务人所欠借款及利息承担保证责任。管理人审查并确认了该笔债权。（简见以下表1案型法律关系表）根据《最高人民法院关于适用〈中华人民共和国民法典〉有关担保制度的解释》（下称“《民法典担保制度解释》”）第22条之规定，[1]保证债权应当自保证人的破产申请受理时起停止计息。与债务人破产时保证债权随同主债权停止计息不同的是，保证人破产导致保证债权停止计息，却不能反向及于主债权也停止计息。其后债务人向债权人清偿了部分债务。此时，管理人将面临如下难题：在主债权未停止计息的情况下，债权人获得债务人部分清偿后，在保证人的破产程序中，管理人先前认定的债权数额是否须要调整？如果须要调整，应该如何进行调整？鉴于该问题在实务中相对较为前沿，笔者曾多次尝试检索与之相关的法规、判例、理论文献、实务文章等，对于解决该问题的资料寥寥无几。虽无前人的解决方案可供参照，但该问题仍然亟待解决。在缺乏相应法律规范的情况下，下文将通过民法基础理论的推演，尝试为解决这一问题提供思路。

The Federal Court in Morgan, in the matter of Traditional Values Management Limited (in liq)[2024] FCA 74, approved an abridged process that allowed the liquidator to admit debts of a group of unsecured creditors without requiring a formal proof of debt.

Key Takeaways

On 31 October 2023, Federal Law No. 51 of 2023 Promulgating the Financial and Bankruptcy Law (the Bankruptcy Law) was published in the United Arab Emirates (UAE) Official Gazette, repealing the prior federal law on bankruptcy (Federal Law No. 9 of 2016, the Prior Law) and significantly developing the bankruptcy regime in the UAE.

In this week’s TGIF, we consider ASIC v Bettles [2023] FCA 975 and ASIC v Jones [2023] WASCA 130, two cases which bring into focus the conduct of insolvency practitioners and alleged abrogation of their duties and independence.

Key takeaways

In this week’s TGIF, we consider Jahani, in the matter of Ralan Property Services Pty Ltd (receivers and managers appointed) (in liq) [2023] FCA 738, a Federal Court decision approving the liquidators’ entry into funding agreements.

Key takeaways

In this week’s TGIF, we consider the Court of Appeal’s decision in Anchorage Capital Master Offshore Ltd v Sparkes [2023] NSWCA 88 and the challenges faced by lenders in accepting representations as to solvency and the financial position of borrowers.

Key takeaways

This week’s, TGIF considers the Court of Appeal’s decision in Westgem Investments Pty Ltd v Commonwealth Bank of Australia Ltd [2022] WASCA 132, handed down on 4 November 2022 in favour of the Commonwealth Bank of Australia Ltd and Lloyds Banking Group (Financiers).

Key takeaways

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