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

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

The Australian government has announced a 'National Innovation and Science Agenda' to be introduced by the middle of 2017, which includes providing a defence to protect directors from liability for insolvent trading where restructuring advice is obtained in an attempt to turn around a company's financial position. The government has also released the Productivity Commission Report on 'Business Set-up, Transfer and Closure' which contains recommendations on how the defence will operate.