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Court directs whether work-in-progress and other intangible ‘assets’ are ‘circulating assets’

The Supreme Court of New South Wales has helpfully given guidance to the liquidators of the RCR Tomlinson Group on a number of unsettled questions that have challenged insolvency practitioners (particularly liquidators of construction companies) when assessing whether certain intangible rights and assets are circulating assets.

The questions include:

Australia, New South Wales, Insolvency & Restructuring, Litigation, Johnson Winter Slattery