This week’s TGIF considers the recent case of In the matter of Umberto Pty Ltd (in liq) [2018] FCA 541,which involved an application to appoint special purpose liquidators and to obtain the Court’s approval of their funding and legal arrangements.

What happened?

This week’s TGIF considers the case of In the matter of Specialist Australian Security Group Pty Ltd (in liq) [2018] VSC 199 in which the Court considered the priority of administrators' right to an indemnity out of company property.

Background

This week’s TGIF considers Gogetta Equipment Funding Pty Ltd v Mark & Liz Pty Ltd [2018] VSC 91, which examined a priority contest between competing equitable interests in property.

What happened?

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.

695 Buggy Circle, LLC, along with six subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware. All of the Debtors are affiliates of, and are seeking joint administration with, the Woodbridge Group of Companies, et al. (Lead Case No. 17-12560).

Candi Controls, Inc., an Oakland, CA-based provider of cloud-based services for energy and facilities management, has had an involuntary petition for relief under Chapter 11 filed against it in the Bankruptcy Court for the District of Delaware (Case No. 18-10679). The involuntary petition was filed by CGM Partners, Howard Elias and Kelly Yang Living Trust, who collectively assert $575,000 in note claims.

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.

This week’s TGIF is the first 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.

This first part looks closely at what the Court of Appeal did – and did not – decide in relation to how receivers and liquidators should deal with property recovered pursuant to an insolvent corporate trustee’s right of indemnity.

Bellflower Funding, LLC and Wall 123, LLC, two affiliates of the Woodbridge Group of Companies, LLC, have filed petitions for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case Nos. 18-10507 & 18-10508).

Orexigen Therapeutics, a biopharmaceutical company focused on the treatment of obesity based in La Jolla, CA, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-10518). According to the Petition, as of November 30, 2017, Orexigen had $265.1 million in assets and $226.4 million in liabilities.