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
The Australian government is working to significantly reform Australia’s current insolvency laws by mid-2017.
The reforms are intended to achieve greater likelihood of business preservation by introducing the flexibility to achieve real turnaround of businesses in crisis.
The proposed changes include:
Australia, Company & Commercial, Insolvency & Restructuring, DLA Piper, Bankruptcy, Breach of contract, Start-up companies, Board of directors, Entrepreneurship, Liquidation, Distressed securities, The Australian