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

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

一、“集中管辖”概述

《中华人民共和国民事诉讼法》（下称“《民事诉讼法》”）中，对于“集中管辖”并无明确的规定，而在民事诉讼的司法实践中，存在许多被称为“集中管辖”的做法。实务中，“集中管辖”泛指将某类案件，依照《民事诉讼法》及其他法律法规的相关规定，以司法解释或者通知的形式，集中由某类法院或某个法院管辖的情形。

概括来说，“集中管辖”共分为如下三种情形：

（1）某类法院集中管辖某类案件，如依据《中华人民共和国企业破产法》（下称“《企业破产法》”）第二十一条的规定，破产案件中涉债务人的诉讼案件集中由受理破产申请的人民法院管辖，或者依据《全国法院审理债券纠纷案件座谈会纪要》（以下简称“《债券会议纪要》”）第十条的规定，以发行人或者增信机构为被告提起的要求依约偿付债券本息或者履行增信义务的合同纠纷案件，由发行人住所地人民法院管辖；

（2）某个法院集中管辖某一类型化案件，如各地金融法院集中管辖当地金融案件、各地知识产权法院集中管辖当地知识产权案件；

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

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