IE CA 3 Holdings Ltd and IE CA 4 Holdings Ltd (Companies) were two Canadian registered companies whose directors were located outside of Canada. The Companies’ parent company, Iris Energy Limited (Iris), was listed on NASDAQ and had its registered office in Melbourne and principal place of business in Sydney, with three of its six directors located in New South Wales.

In Morgan v McMillan Investment Holdings Pty Ltd [2024] HCA 33, the High Court had to consider whether a right to sue held by companies in liquidation could provide the required gateway for a pooling order under s 579E(1) of the Corporations Act 2001 (Cth).

Key Takeaways

In In the matter of Academy Construction & Development Pty Ltd (subject to Deed of Company Arrangement) [2024] NSWSC 808, the New South Wales Supreme Court had to determine whether to terminate a Deed of Company Arrangement (DOCA) on the basis that it was oppressive, unfairly prejudicial or discriminatory.

Key Takeaways

The Supreme Court of Western Australia has recently delivered judgment in the case of Kitay v Frigger [No 2] [2024] WASC 113. The Court held that some, but not all, long-term costs agreements and retainers entered into by a liquidator required court approval.

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.

The Federal Court has recently delivered judgment in the case of Cooper as Liquidator of Runtong Investment and Development Pty Ltd (In Liq)v CEG Direct Securities Pty Ltd [2024] FCA 6, a case where a liquidator was successful in having a mortgage declared as an unreasonable director-related transaction.

Key Takeaways

In this week’s TGIF, we examine the recent case of Re Eliana Construction and Developing Group Pty Ltd [2023] VSC 639 which considers guarantor subrogation rights in insolvency scenarios.

Key takeaways

In this week’s TGIF, we examine the recent case of Mandalinic v Stone (Liquidator) [2023] FCAFC 146 which provides useful guidance as to the ability of a director to challenge an insolvent company’s PAYG liability.

Key takeaways

In a recent case involving PT Garuda, the national airline of Indonesia, the New South Wales Court of Appeal dismissed an appeal by two creditors seeking to wind-up the airline, concluding that PT Garuda enjoyed immunity under the Foreign States Immunities Act 1985 (Cth).

Key takeaways

我国现行的《环境保护法》、《民法典》侵权责任编、《企业破产法》以及最高人民法院相关司法解释对于追究企业的环境侵权民事责任作出了相应的规定，但对于企业破产阶段的环境侵权之债的清偿顺序问题，并未作出明确规定，如果仅将其作为普通债权进行处理，往往导致企业的环境债务无法得到清偿。在此前提下，破产程序中的环境债务问题已引起司法部门高度重视。2022年11月4日，贵阳市中级人民法院出台的《贵阳市中级人民法院关于审理企业破产案件中涉生态环境问题处理的工作指引》，体现出法院不断强化环境保护司法力度的趋势；2023年2月，最高人民法院发布的推进碳达峰碳中和典型案例四“杭州某球拍公司破产清算案”[1]，将案涉危废物处置费用作为破产费用列支，充分反映出司法对生态环境保护愈加强化。

破产企业环境债务与职工债务、税务债务一样，均具有社会性、公益性的特殊性质，同时环境债务所承载的环境治理长远性意义尤甚。因此，破产企业环境债务的清偿问题亟待厘清。

一、企业破产程序中的环境债务

（一）环境债务的形成