Some bankruptcy experts predict an increase in business failures for government contractors in the coming years. Increased demands and constraints on government spending will stress both prime contractors and subcontractors. As federal regulations generally place the burden of compliance on prime contractors, a financially distressed subcontractor is a concern not only for the sub, but also for the prime contractor.

A sub’s financial problems jeopardize the sub’s ability to perform its subcontract and, thus, pose serious threats to a prime contractor, including:

Seeking directions from the Court in the period 1 March to 1 September 2017 – what are liquidators and administrators to do?

Justice Robson has delivered his decision on an application by receivers and managers for directions as to, among other things, their obligations to pay preferential debts under the Corporations Act from the surplus generated by their trading-onof a business and other recoveries by their appointing bank.

Is a “stay of enforcement” of a judgment within the meaning of s 15(2) of the Foreign Judgments Act brought about by s 58(3) of the Bankruptcy Act?

Talacko v Bennett [2017] HCA 15, 3 May 2017

After several years of drafting, debate, compromise and fine tuning, it appears that major changes to the administration of consumer bankruptcy cases are imminent. On April 27, 2017, Chief Justice John Roberts submitted to Congress amendments to the Federal Rules of Bankruptcy Procedure that will have a profound impact on consumer bankruptcy cases.

As noted in a previous post about the Sakr case[1], the worth of the work done by a liquidator can be calculated in various

A recent decision of the New South Wales Court of Appeal serves as a timely reminder of the costly consequences of failing to register a PPSR security interest in leased goods.

Power Rental Op Co Australia, LLC v Forge Group Power Pty Ltd (in liq) (receivers and managers appointed) [2017] NSWCA 8

In March 2013 General Electric International Inc (GE), the appellant’s predecessor in title, agreed to lease turbines to Forge Group Power Pty Ltd (Forge Group).

In Suk v Hanjin Shipping Co Ltd [2016] FCA 1404, the Federal Court (a) provided guidance on how courts are to determine what stay arises upon recognition of foreign main proceedings under the Cross-Border Insolvency Act 2008; and (2) demonstrated that such recognition can cause maritime lien actions to be stayed.

Winding up a company when you are the trustee in bankruptcy of the sole director and shareholder can be more complicated than you think.

On Dec. 7, 2016, the U.S. Supreme Court heard oral arguments in Czyzewski v. Jevic Holding Corp, No. 15-659. (S. Ct. argued Dec.