This week’s TGIF considers the recent decision of the NSW Court of Appeal in the Arrium liquidation, where the Court set aside examination orders sought for the purpose of a possible shareholder class action.

Key takeaways

Administrators unsuccessfully argued that rent incurred during the administrators’ statutory “no personal liability” period was an unsecured debt which would not enjoy priority in the event the relevant companies went into liquidation.

Key takeaways

A recent decision of the Ontario Superior Court of Justice (Commercial List) (the “Court”) in the receivership proceedings of The Clover on Yonge Inc.[1] (the “Clover Project”) has addressed the question of whether a debtor in receivership can avoid a sales process by redeeming its outstanding debt.

Federal Treasurer Josh Frydenberg announced recently that the Commonwealth Government is considering extending aspects of the ‘regulatory shield’ implemented on 24 March 2020, which provided temporary relief from certain insolvency laws for financially distressed businesses.

A recent decision in the Companies’ Creditors Arrangement Act (“CCAA”) proceedings of Bellatrix Exploration Ltd.[1] (“Bellatrix”) serves as a useful reminder to professionals that a

This week’s TGIF considers an appeal to the Full Court of the Federal Court for the termination of a deed of company arrangement , in circumstances where the appellants argued that liquidation of the company would provide a better return to creditors.

Key takeaways

This week’s TGIF considers In the matter of Fellmane Pty Ltd (in liq)[2020] NSWSC 595, a recent decision in which the NSW Supreme Court declined to give directions approving a proposed transaction proposed by a liquidator of the trustee and the receiver of that trust which would have extinguished the trustee’s right of indemnity against the principal debtor.

Key takeaways

This week’s TGIF considers a recent decision in which the NSW Supreme Court appointed a receiver to a hospitality business, in lieu of a provisional liquidator, due to fears the COVID-19 pandemic would cause creditors to question insolvency.

Key takeaways

As Canadian businesses continue to grapple with decreased cash flow as a result of COVID-19, many are looking for ways to generate cash and remain viable. One such way is to sell non-core assets or divisions through a pre-packaged sale transaction.

Pre-Packaged Sale Overview

This week’s TGIF considers the decision in McCallum, in the Matter of Re Holdco Pty Ltd (Administrators Appointed)[2020] FCA 666, where the Court granted leave for administrators to sell assets in which third parties claimed ownership or security interests, after determining that those interests were adequately protected.

Key takeaways