This week’s TGIF considers the recent Queensland Supreme Court decision in CGS Constructions (Qld) Pty Ltd [2022] QSC 28 where it dismissed an application to restrain liquidators from engaging the same solicitors as a major creditor to conduct public examinations.
Key Takeaways
In two relatively recent but unrelated decisions, the Eastern Caribbean Court of Appeal has provided helpful guidance in relation to how the Court ought to deal with an application for the appointment of a liquidator in circumstances where the company asserts a cross-claim in an amount exceeding the applicant's debt.
Introduction
A Cayman segregated portfolio company, Performance Insurance Company SPC, was placed into official liquidation. The joint liquidators' appointment extended to all of the underlying segregated portfolios (SPs), some of which were solvent and others insolvent. Two of the solvent SPs applied to the Grand Court of the Cayman Islands seeking the appointment of an additional liquidator of the company to separately represent the interests of those solvent SPs on the basis that the original liquidators were conflicted in administering both the solvent and insolvent SPs.
This week’s TGIF considers an interlocutory decision of Ball J in the NSW Supreme Court in Aqua Botanical Beverages (Australia) Pty Ltd v Botanical Water Technologies Pty Ltd [2022] NSWSC 435, in which the Court dismissed an application to add an oppression claim where the company went into liquidation after commencing proceedings.
Key Takeaways
This week’s TGIF considers In the matter of Jabiru Satellite Limited (in liq) and NewSat Limited (in liq) [2022] NSWSC 459 where the Court declined to appoint a special purpose liquidator to pursue claims available to the company.
Key Takeaways
This week’s TGIF focuses on The Australian Sawmilling Company Pty Ltd (in liq) v Environment Protection Authority [2021] VSCA 294 in which the Court set aside a disclaimer of onerous property, such that liquidators were held liable under environment protection legislation.
Key Takeaways
This week’s TGIF considers Australian Vocational Learning Institute Pty Ltd (in liq), in the matter of Australian Vocational Learning Institute Pty Ltd (in liq) [2022] FCA 319, a Federal Court of Australia decision on the approval of a funding agreement between the Commonwealth government and a liquidator.
Key Takeaways
This week’s TGIF considers In the matter of Guided Knowledge Group Pty Ltd [2022] NSWSC 255 in which a liquidator sought approval for his remuneration under Schedule 2 of the Corporations Act 2001 (Cth).
Key Takeaways
In a recent decision of the Federal Court of Australia (Re WHBO Australia Pty Ltd[2022] FCA 234), Administrators of the Probuild group of companies (the Probuild Group) were granted a three-month extension for the convening period for the second meeting of Creditors largely due to the ‘size and complexity’ of the companies involved.
Key Takeaways