Concedida una subvención pública, fue posteriormente anulada en vía administrativa, con resolución que obligaba a devolver su importe. Entretanto el beneficiario de la subvención había sido declarado en concurso. Las dos instancias judiciales entendieron que la deuda de restitución es una deuda de la masa, por haber tenido lugar su devengo después de la declaración de concurso.
Se trata de un sumario y elocuentememo firmado por dos juristas de Kirkland & Ellis LLP, London, y publicado enInternational Corporate Rescue, vol. 15, issue 6, 2018, que resumo en lo que importa. Siempre suponiendo un hard Brexit. (1) Los tribunales de UK no reconocerán —salvo implementación por UK de la Ley Modelo de UNCITRAL— procedimientos de insolvencia extranjeros si afectan a titulares de créditos sometidos a Derecho inglés que disienten del acuerdo y no estuvieron presentes en el procedimiento extranjero.
Se explora la posibilidad de que los acreedores financieros de la masa del concurso puedan solicitar una homologación judicial de un acuerdo de refinanciación de sus créditos contra la empresa ya consursada.
This week’s TGIF considers Re Broens Pty Limited (in liq) [2018] NSWSC 1747, in which a liquidator was held to be justified in making distributions to creditors in spite of several claims by employees for long service leave entitlements.
What happened?
On 19 December 2016, voluntary administrators were appointed to Broens Pty Limited (the Company). The Company supplied machinery & services to manufacturers in aerospace, rail, defence and mining industries.
En el concurso de la sociedad EM se incluyeron en el inventario de la masa activa dos fincas inscritas. El inventario no fue impugnado en el plazo previsto en el artículo 96.1 de la Ley Concursal (LCon). Tras la preclusión del mencionado plazo impugnatorio, la actora presentó una demanda para que se la declarase propietaria de una parte proindivisa de las fincas.
This week’s TGIF considers Australian Worldwide Pty Ltd v AW Exports Pty Ltd where the Court awarded security for costs against plaintiff companies in liquidation, despite a litigation funder’s indemnity against adverse costs.
Background
The new company shareholders, who have accessed ownership of the securities by ordinary purchase or by enforcement of a pledge of securities, must beware above all of the hitherto dormant claims of former shareholders and directors.
This week’s TGIF article looks at the decision of Hooke v Bux Global Ltd (No 6) [2018] FCA 1545, where Bux Global Ltd (Bux Global) was wound up on just and equitable grounds and the perceived independence of a director-appointed liquidator was questioned.
Background
This week’s TGIF considers the recent case of Vanguard v Modena [2018] FCA 1461, where the Court ordered a non-party director to pay indemnity costs due to his conduct in opposing winding-up proceedings against his company.
Background
Vanguard served a statutory demand on Modena on 27 September 2017 seeking payment of outstanding “commitment fees” totalling $138,000 which Modena was obliged, but had failed, to repay.
The recent decision of the Court of Appeal of Western Australia, Hamersley Iron Pty Ltd v Forge Group Power Pty Ltd (in Liquidation) (Receivers and Managers Appointed) [2018] WASCA 163 provides much needed clarity around the law of set-off. The decision will no doubt help creditors sleep well at night, knowing that when contracting with counterparties that later become insolvent they will not lose their set-off rights for a lack of mutuality where the counterparty has granted security over its assets.