The Judicial Committee of the Privy Council has decisively redrawn the boundaries between arbitration agreements and insolvency proceedings in the case of Sian Participation Corp (In Liquidation) v Halimeda International Ltd.[1]
Insolvenzanträge von namhaften Projektentwicklern und Immobiliengesellschaften stellen die betroffenen Unternehmen und ihre Gläubiger vor große Herausforderungen und setzen die gesamte Immobilienbranche unter Druck. Gleichzeitig gewinnen alternative Restrukturierungsmethoden, die außerhalb oder bereits im Vorfeld eines formalen Insolvenzverfahrens stattfinden, zunehmend an Bedeutung.
Vor diesem Hintergrund fällt auch vermehrt das Stichwort “StaRUG“, wenn es um die Restrukturierung von immobilienhaltenden Gesellschaften geht.
FOLLOWING OUR PREVIOUS ARTICLES ON THE QUALEX-LANDMARK TOWERS INC V 12-10 CAPITAL CORP CASE BEING HEARD IN THE ALBERTA COURTS, 12-10 CAPITAL CORP HAS NOW BEEN APPEALED SUCCESSFULLY IN THE COURT OF APPEAL OF ALBERTA, WHICH RELEASED IT’S DECISION EARLIER LAST MONTH. BEALE & CO PROVIDES AN UPDATE AND FURTHER COMMENTARY ON THE LATEST DEVELOPMENT OF THIS ENVIRONMENTAL CASE.
The Supreme Court of NSW refused to validate the appointment of a voluntary administrator (Administrator) to Premier Energy Resources Pty Ltd (Company) under section 447A of the Corporations Act 2001 (Cth) (Act) after the Administrator failed to investigate allegations of fraud surrounding his appointment.
Cooper as liquidator of Runtong Investment and Development Pty Ltd (in liq) v CEG Direct Securities Pty Ltd [2024] FCA 6
Following our previous article on the Canadian case of Qualex-Landmark Towers Inc v 12-10 Capital Corp, there has been an application to appeal to Alberta’s highest court with several intervener applications. Beale & Co provides an update and further commentary on the next chapter of this environmental case.
Commonwealth of Australia v Tonks [2023] NSWCA 285
In this decision, the Court of Appeal of the Supreme Court of NSW considered the interplay between the priority regimes under ss 556 and 561 of the Corporations Act 2001 (Cth) (Act) in resolving a contest between a liquidator’s claim for remuneration and the entitlements of former employees to be paid out of circulating assets.
The Court of Appeal confirmed the first instance decision of Justice Black in finding that:
In einer aktuellen Entscheidung hat das BAG festgestellt, dass die Vermutungswirkung des § 125 Abs. 1 Nr. 1 InsO auch dann eingreift, wenn bis zu einem anvisierten Stilllegungszeitpunkt noch viel Zeit vergeht und für ein Unternehmen in der Zwischenzeit – anders als prognostiziert – doch ein Erwerber gefunden wird (BAG, Urteil vom 17. August 2023 – 6 AZR 56/23, PM).
Case Name & Citation
Greylag Goose Leasing 1410 Designated Activity Company v P.T. Garuda Indonesia Ltd [2023] NSWCA 134 per Bell CJ, Meagher JA, Kirk JA
Hyperlink
Date of Judgment
14 June 2023
Issues