前记

执行是实现生效裁判文书债权的“最后关键一环”，是维护当事人合法权益的“最后一公里”。囿于执行领域纷繁复杂的法律规定以及各地司法实践的尺度不一，执行往往成为争议解决的重点及难点。我们长期专注于执行领域，代理了大量金融资管公司、上市公司的公证债权文书、诉讼/仲裁的执行案件。为此，基于执行实务经验，我们着眼于当前执行领域的热点难点问题，推出执行干货系列专题文章，敬请关注。

专题二

目前，法院通过网络拍卖平台处置财产已成为处置执行财产的主要方式，相比传统拍卖模式而言网络拍卖的效率可能更高，也更有利于保护债权的实现以及债务人的合法权益。近年来，越来越多的破产财产也同样通过网络拍卖平台高效处置。实践中，竞买人经常因为种种原因事后意图“悔拍”并寻求救济。对此，破产网络拍卖相关纠纷究竟属于何种性质？竞买人应选择什么程序进行救济？拍卖公告是否一律不得修改？本文结合司法实践对前述疑问进行单刀直入地解析。

破产网络拍卖的性质

Introduction

The concept of winding up does not exclusively apply to insolvent companies. Solvent companies can also be wound up, on the initiation of the company’s directors and shareholders (for example, as part of a corporate reconstruction or to close down non-operating or redundant entities). 

An overview of the two key procedures to effect the dissolution of a solvent Australian company, being Members’ Voluntary Liquidation and Deregistration, is set out below. 

In brief

Even with the fiscal stimulus and other measures taken by the Federal and State governments in Australia, corporate insolvencies are likely to increase in coming months.

Under Australia's insolvency regimes, a distressed company may be subject to voluntary administration, creditor's voluntary winding up or court ordered winding up (collectively, an external administration). Each of these processes raises different issues for the commencement and continuation of court and arbitration proceedings.

In summary

In our previous alert we discussed how Justice Markovic in the Federal Court of Australia had granted the administrators of retailer Colette Group relief from personal liability for rent in respect of 93 stores.  

The Australian Federal Court has made orders relieving the administrators of retailer Colette from personal liability for rent in response to the COVID-19 crisis and the current uncertainty in respect of government policy about rent relief for tenants: see

What you need to know

Amendments to the Corporations Act 2001 (Cth) (Corporations Act) to implement the measures announced by Treasurer Josh Frydenberg on Sunday, 22 March 2020 to provide temporary relief for financially distressed businesses due to COVID-19 have now come into effect.

The Coronavirus Economic Response Package Omnibus Act 2020 (Cth) (CERPO Act) amendments were passed by the Parliament on 2 March 2020. They will apply for a 6 month period, but may be extended or have impacts beyond that timeframe.

The Treasurer, the Honourable Josh Frydenberg MP, has today announced proposed temporary changes to Australian corporate insolvency laws which will vary the minimum requirements for statutory demands and provide some relief for directors from insolvent trading. These announcements form part of the Australian Government's measures to support otherwise profitable and viable businesses due to the economic impacts of COVID-19.

What a director wanting to enter the safe harbour must do

Directors in Australia have long had a statutory duty to prevent insolvent trading. The duty is engaged where:

This article was first published in Digital Asset.

“Immutable” is a term that is frequently used when people talk about blockchain and the benefit of using this technology for record-keeping.

UNCITRAL has recently published its Model Law on Recognition and Enforcement of Insolvency-Related Judgments (MLREIJ), with a recommendation that nations adopt it into their domestic law. You can find a complete copy of the text of MLREIJ here (on the UNCITRAL website).