This week’s TGIF looks at a decision of the Federal Court called in the matter ofCuDeco Limited where liquidators sought directions and declarations as to their responsibility and liability for certain assets.
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This week’s TGIF examines a recent Federal Court decision which considered an application to discharge summonses issued pursuant to sections 596A and 596B of the Corporations Act 2001 (Cth).
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This TGIF considers Tayeh v Commonwealth of Australia [2020] FCA 1323, where the Federal Court found that irregularities in the formation of a Committee of Inspection rendered invalid resolutions of the committee, including resolutions concerning liquidator remuneration.
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This week’s TGIF considers the case of Australian Securities and Investments Commission v Bettles [2020] FCA 1568, where the Federal Court of Australia confirmed the need for precision in making allegations of illegal phoenix activity.
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Australia has posted a record fall in its GDP in 2020. At the same time, following a series of temporary measures introduced due to COVID-19, Australian insolvency filings have hit record lows.
Despite the ongoing global pandemic, opportunities for stressed and distressed investments have not been as prolific as many expected. The window for entry into credits opened and closed more quickly than imagined. Nevertheless there have been several high-profile restructurings using the English scheme of arrangement. Of course, some of these were already in motion prior to the onset of the pandemic. A handful of these have sought to test the recently enacted insolvency regime, whilst others have tested more established legislative principles.
This week’s TGIF looks at a recent case where the Federal Court ordered the reinstatement of two companies to allow proceedings to be commenced against the liquidator of those companies for alleged breaches of duty (Lee v Parker [2020] FCA 1453).
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This week’s TGIF looks at the decision of the Supreme Court of Victoria in Re Barokes Pty Ltd (in liq)
THE CHALLENGE:
After years of selling services at a loss to grow its customer base, Agera Energy—a retail electricity and natural gas provider for commercial, industrial and residential customers in 16 states—realized its business was no longer viable. The company decided to file for chapter 11 bankruptcy protection after evaluating strategic alternatives.
This week’s TGIF looks at the NSW Supreme Court’s recent guidance on factors relevant to whether a winding up ought be terminated.
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