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Extensions of shelf life of voidable transactions claims – recent High Court decisions

On 11 March 2015, the High Court delivered the following significant decisions (Grant Samuel Corporate Finance v Fletcher [2015] HCA 8 and Fortress Credit Corporation (Australia) II Pty Ltd v Fletcher [2015] HCA 10) in relation to s588FF(3) of theCorporations Act 2001 (Cth).

Australia, Insolvency & Restructuring, Litigation, Johnson Winter Slattery, Corporations Act 2001 (Australia)
Special purpose liquidator of One.Tel granted release under the Corporations Act

In the matter of One.Tel Limited (in liquidation) [2014] NSWSC 1892

Australia, New South Wales, Insolvency & Restructuring, Litigation, Johnson Winter Slattery, Liquidator (law), Corporations Act 2001 (Australia)
Australian freezing orders valid ahead of foreign judgments

In the recent decision of Pt Bayan Resources TBK v BCBC Singapore Pte Ltd [2014] WASCA 178, the Western Australian Court of Appeal unanimously found that the Rules of the Supreme Court 1971 (WA) (RSC) were valid insofar as they empower the Court to ‘freeze’ local assets ahead of a possible foreign judgment.

Australia, Western Australia, Insolvency & Restructuring, Litigation, Johnson Winter Slattery
Liquidator's lien prevails over secured creditor

Introduction

Australia, Victoria, Insolvency & Restructuring, Litigation, Johnson Winter Slattery, Secured creditor, Unsecured creditor, Victoria Supreme Court
Validly constituted committees of inspection

Owen, in the Matter of RiverCity Motorway Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed) (“RiverCity”) [2014] FCA 1008

Australia, Insolvency & Restructuring, Litigation, Johnson Winter Slattery