In a decision handed down earlier today, in Willmott Growers Group Inc v Willmott Forests Limited (Receivers and Managers appointed) (in liquidation) [2013] HCA 51,  the majority of the High Court upheld the Victorian Court of Appeal’s conclusion that the liquidators of an insolvent landlord can disclaim a lease, thereby extinguishing the tenant’s leasehold interest.

In the middle of the night back in February 2013 the Irish Bank Resolution Corporation Act 2013 (the IBRC Act) was passed by the Irish government. This Act allowed the Irish Minister for Finance to make a Special Liquidation Order winding up IBRC, being the former Anglo Irish Bank and Irish Nationwide Building Society. As a consequence of that KPMG in Dublin were appointed as Special Liquidators of IBRC.