Key Points:
Australia, Banking, Corporate Finance/M&A, Insolvency & Restructuring, King & Wood Mallesons, Foreign direct investment, Foreign Investment Review Board
On the 2 August 2021 Treasury released a consultation paper titled ‘Helping Companies Restructure by Improving Schemes of Arrangement. The consultation is aimed at reforming Australia’s scheme of arrangement procedure.
Receiverships usually arise from a secured creditor exercising their rights under a loan contract or mortgage following a default. But even where no default occurs, the Supreme Court of New South Wales has jurisdiction to appoint a receiver to preserve the property of an association pending the resolution of a dispute about the management of the association’s property.
Jurisdiction
Australia, New South Wales, Company & Commercial, Insolvency & Restructuring, Litigation, McCabe Curwood, New South Wales Supreme Court