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Liquidator’s default judgment dismissed to avoid risk of inconsistent findings

In the matter of Bleecker Property Group Pty Ltd (In Liquidation) [2023] NSWSC 1071, appears to be the first published case that considers the question of whether an order can be made under section 588FF(1)(a) of the Corporations Act 2001 (Cth) by way of default judgment against one defendant where there are multiple defendants in the proceedings.

Key takeaways

Australia, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth, Liquidation, Corporations Act 2001 (Australia)
Court grants limited intervention in Liquidator’s funding approval applications

This week’s TGIF considers Hundy (liquidator), in the matter of 3 Property Group 13 Pty Ltd (in liquidation) [2022] FCA 1216, in which the Federal Court of Australia granted leave under rule 2.13(1) of the Federal Court (Corporations) Rules 2000 (Cth) (FCCR) for intervening parties to be h

Australia, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth, Corporations Act 2001 (Australia), Federal Court of Australia
Australian Insolvency Considerations for (Re)insurers in the Era of COVID-19

With the impact of COVID-19 rapidly being felt by businesses, 2020 is likely to see a number of Australian insureds face insolvency. While this presents a number of challenges for (re)insurers in the Australian market, there are steps that (re)insurers can take to manage the situation and their exposures.

Australia, Insolvency & Restructuring, Insurance, Clyde & Co LLP, Coronavirus