The important role of standard terms of sale
The standard terms of sale of a supplier can form part of a credit application by its customer, appear on sales invoices or order forms or on the supplier’s website and there are many other combinations of documentation and procedures that can be used to establish written evidence of the terms of the contract between the supplier and its customer. Just as important, there are many reasons why these combinations may come unstuck.
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).
In the matter of One.Tel Limited (in liquidation) [2014] NSWSC 1892
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.
Introduction
Owen, in the Matter of RiverCity Motorway Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed) (“RiverCity”) [2014] FCA 1008
In preparing a statement supporting the determination that recusal from a bankruptcy proceeding was unnecessary, U.S. Bankruptcy Court Judge Richard E. Fehling quoted Master Sergeant Georg Hans Shultz from the television sitcom Hogan’s Heroes: “I KNOW NOTHING! NOTHING!”
Criminal defendants facing onerous restitution obligations as part of their sentence might contemplate a bankruptcy filing, in the hope of staving off the restitution obligation. In a case of first impression, the Second Circuit recently considered whether the Bankruptcy Code’s automatic stay provision halts a defendant’s obligation to pay restitution and firmly closed the door on that potential gambit.