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

In the past few years, many automotive suppliers have been facing increasing financial or operational problems. The COVID-19 pandemic has exacerbated these problems and is putting some of these companies in considerable distress. The search for possible solutions is in full swing, and for financial investors or competitors with strong liquidity, there is the opportunity to acquire shares in the companies in crisis or alternatively in individual assets at comparatively favourable conditions.