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Left in the dark - Seeking to appoint a voluntary administrator when Board relations crumble

This week’s TGIF considers the case ofIn the matter of Bean and Sprout Pty Ltd [2018] NSWSC 351, an application seeking a declaration as to the validity of the appointment of a voluntary administrator.

What happened?

On 7 December 2018, Mr Kong Yao Chin (Chin) was purportedly appointed as the voluntary administrator of Bean and Sprout Pty Ltd (Company) by a resolution of the Company.

Australia, New South Wales, Company & Commercial, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth, Board of directors, Corporations Act 2001 (Australia), New South Wales Supreme Court
Re Run of Re Amerind - Part 2: Circulating Security Interests and Circulating Assets

This week’s TGIF is the second of a two-part series considering Commonwealth v Byrnes [2018] VSCA 41, the Victorian Court of Appeal’s decision on appeal from last year’s Re Amerind decision about the insolvency of corporate trustees.

Australia, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth
Has new NSW insurance legislation created more problems than it has solved for claimants, creditors and insolvency practitioners?

In June 2017, the New South Wales Parliament introduced the Civil Liability (Third Party Claims Against Insurers) Act 2017 (NSW Act), designed to clarify the rights of claimants to proceed directly against insurance companies. But in the context of insolvent corporations, has it created more problems than it has solved?

Australia, New South Wales, Insolvency & Restructuring, Insurance, Litigation, Corrs Chambers Westgarth, Corporations Act 2001 (Australia)
Les délais dans un dossier de faillite : en conformité ou pas avec le droit civil?

Les délais sont d’une importance primordiale dans le cadre de procédures judiciaires. Le défaut de les respecter peut impliquer le rejet d’une action.

Dans l’affaire 9190-0753 Québec Inc. (Syndic de), 2016 QCCS 1983 (29-04-2016), le juge Stephen W. Hamilton a décidé de l’application de certains délais du Code de procédure civile (ou C.p.c.) en complément de la Loi sur la faillite et l’insolvabilité (ci-après « Loi ») et des Règles générales sur la faillite et l’insolvabilité (ci-après « Règles »).

Les faits

Canada, Quebec, Insolvency & Restructuring, Litigation, Miller Thomson LLP, Quebec Superior Court
Les délais dans un dossier de faillite : en conformité ou pas avec le droit civil?

Les délais sont d’une importance primordiale dans le cadre de procédures juridiciaires. Le défaut de les respecter peut impliquer le rejet d’une action.

Dans l’affaire 9190-0753 Québec Inc. (Syndic de), 2016 QCCS 1983 (29-04-2016) le juge Stephen W. Hamilton décide de l’application de certains délais du Code de procédure civile (ou C.p.c.) en complément des Règles générales sur la faillite et l’insolvabilité (ci-après « Règles »).

Les faits

Canada, Insolvency & Restructuring, Litigation, Miller Thomson LLP
Marked for life? Trademarks and the Bankruptcy and Insolvency Act

Intellectual property rights are meant to protect that which cannot be easily protected: ideas, images, music and brands. The creators of these intangible concepts are given an economic monopoly over them, in the hopes of fostering greater creativity and economic growth. Bankruptcy law, on the other hand, seeks to equitably distribute the property of the bankrupt among its creditors, subject to the rights of secured creditors.  There is an inherent conflict between the rights of two groups.

Canada, Insolvency & Restructuring, Trademarks, Miller Thomson LLP, Bankruptcy and Insolvency Act 1985 (Canada)