This week’s TGIF considers the recent decision of Hastie Group Ltd (in liq) v Moore [2016] NSWCA 305 in which the Court held that privilege attached to an expert report prepared for the purpose of obtaining litigation funding.

WHAT HAPPENED?

This week’s TGIF considers Re Akron Roads Pty Ltd (in liq) (No 3) in which the Court held that the liquidators had standing to seek a declaration against an insurer arising from the assignment of rights under a policy.

WHAT HAPPENED?

The previous High Court decision

This week’s TGIF considers State of Victoria v Goulburn Administration Services (In Liquidation) and Ors [2016] VSC 654, in which Special Purpose Liquidators were appointed despite a potential conflict arising from their firm having conducted compliance audits of the companies.

Background

At this stage of Ireland's economic cycle, in many cases obtaining a court judgment against a debtor does not necessarily ensure payment. If the judgment debtor fails to pay, there are several procedures available to a judgment creditor to attach the judgment debtor's assets and income so as to obtain payment (a process broadly termed 'execution'). In order to make such an application, the judgment creditor must of course have some knowledge of and information about the particular asset or income.

The Companies Act 2014 (the "Act") was recently passed by the Irish parliament and is expected to be brought into force on 1 June 2015 (the "Commencement Date").  The Act is largely a consolidation and modernisation exercise. 

However, there are a number of significant areas which modify existing companies legislation and which lenders will need to consider both in the run-up to the Commencement Date and afterwards.  In particular these relate to: