The Federal Court in Brereton, in the matter of ICT Century Pty Ltd (In Liquidation) [2025] FCA 107 granted the liquidators of ICT Century Pty Ltd (in liquidation) (ICT) a one-year ‘shelf order’, or an extension of time to bring voidable transaction claims under section 588FF(1) of the Corporations Act 2001 (Cth).

The Federal Court of Australia has recently delivered judgment in the case of Deputy Commissioner of Taxation v ACN 152 259 839 Pty Ltd [2024] FCA 1489. The Court held that in some circumstances, a statutory demand can be validly served on a perceived temporarily empty company office.

On 20 May 2024, an ATO officer purported to serve ACN 152 259 839 Pty Ltd (the Company) with a statutory demand and an accompanying affidavit by leaving the documents at the Company’s registered office.

The Federal Court in Hema Maps Pty Ltd v HemaX Digital Pty Ltd, in the matter of HemaX Digital Pty Ltd [2024] FCA 1127, appointed a provisional liquidator to preserve the status quo until the determination of a winding up application. This winding up application was due to a deadlock and an irreparable breakdown in relations between shareholders, and mismanagement of the company.

Key Takeaways

The New South Wales Supreme Court has recently delivered judgment in the case of

It has long been established that where the circumstances in which funds are advanced by a shareholder to the company in which they own shares is unclear, the court must consider the "surrounding circumstances" when determining how to characterize the advance. Historically, "surrounding circumstances" were understood to be the circumstances extant at the time the transaction was effected: (e.g., Ghassemvand v. Premium Weatherstripping Inc., 2017 BCCA 309 [Ghassemvand]).

In the matter of Bleecker Property Group Pty Ltd (In Liquidation) [2023] NSWSC 1071, appears to be the first published case that considers the question of whether an order can be made under section 588FF(1)(a) of the Corporations Act 2001 (Cth) by way of default judgment against one defendant where there are multiple defendants in the proceedings.

Key takeaways

In this week’s TGIF, we consider Hutton, in the matter of Caydon Flemington Pty Ltd (Receivers and Managers appointed) (In liq) [2023] FCA 796, a Federal Court decision concerning the grant of an extension after the ‘critical time’ for the vesting of a security interest.

Key takeaways

The U.K. Financial Services and Markets Act 2023

This week’s TGIF considers In the matter of BCA National Training Group Pty Ltd (in liq) [2023] NSWSC 366, in which the priority between a liquidator’s remuneration and expenses claims and the claims of preferred creditors was clarified.

Key takeaways

The Court of King's Bench for Saskatchewan has rejected another attempt by a rural municipality to gain priority in an oil and gas receivership. This follows the recent Alberta Decision in Orphan Well Association v Trident Exploration Corp, 2022 ABKB 839, where the Alberta Court of King's Bench confirmed that the abandonment and reclamation obligations owed to the Orphan Well Association and the Alberta Energy Regulator rank in priority to claims of municipalities for unpaid property taxes in insolvency proceedings.