In Bailey & Others (Joint Liquidators of D&D Wines International Limited) v Angove’s Pty Limited¹, the Court of Appeal overturned a decision of the High Court, and so permitted the liquidator of an insolvent agent to recover funds due to it from end-customers despite the agency having been terminated.

Background

Background
Decision on survival of contractual rights
Decision on constructive trust
Comment

In a decision that may have implications for holders of community development district bonds and other similar “dirt bonds,” a Florida bankruptcy court has ruled that holders of community development district bonds do not always have plan voting rights when the underlying developer — as opposed to the development district itself — is the bankruptcy debtor.