Fulltext Search
Australia: Stuck in the middle - Court finds liquidators personally liable for environmental remediation costs

In brief

Australia, Queensland, Environment & Climate Change, Insolvency & Restructuring, Litigation, Baker McKenzie, Mediation
Australia: Stuck in the middle - Court finds liquidators personally liable for environmental remediation costs

 

In brief

Australia, Queensland, Environment & Climate Change, Insolvency & Restructuring, Litigation, Baker McKenzie
Australia: Stuck in the middle - Court finds liquidators personally liable for environmental remediation costs

In brief

Australia, Queensland, Environment & Climate Change, Insolvency & Restructuring, Litigation, Baker McKenzie
Not Easy Being Green: Insolvency Practitioners on Further Notice of Personal Liability for Environmental Obligations

Liquidators, administrators and receivers in Queensland are on notice that they may face serious personal consequences if they fail to cause companies to which they are appointed to comply with Environmental Protection Orders (EPOs).

Re Linc Energy Limited (In Liquidation) [2017] QSC 53 (13 April 2017) has determined that liquidators may not be able to escape obligations under an EPO by issuing a disclaimer notice.

Australia, Queensland, Environment & Climate Change, Insolvency & Restructuring, Litigation, Baker McKenzie, Liquidator (law), Corporations Act 2001 (Australia), Queensland Supreme Court
Good News on “Bad Boy” Guarantees - IRS Reverts to Prior Position in Recent Legal Advice Memorandum

On April 15, 2016, the IRS released a generic legal advice memorandum (GLAM 2016-001) (the “April GLAM”) addressing the impact of so-called “bad boy” guarantees (also known as nonrecourse carve-out guarantees) on the characterization of underlying partnership debt as recourse vs. nonrecourse under Section 752 of the Internal Revenue Code.

USA, Insolvency & Restructuring, Real Estate, Tax, Mintz, Debtor, Internal Revenue Service (USA)