This week’s TGIF considers the decision of the Federal Court in In the matter of Thousand Angeles Island Pty Ltd (in liq) (No 2) [2021] FCA 283, where the Court held that only a ‘theoretical conflict’ existed for a liquidator entering into a deed where he was also bankruptcy trustee of the company’s sole shareholder.
Key takeaways
Dear Clients and Friends,
In 2020, domestic and international energy markets were challenged by a worldwide pandemic and its effect on commodity prices, which accelerated disruptions in supply chains and impacted the energy transition in countries around the world.
This week’s TGIF considers an application to the Federal Court for the private hearing of a public examination where separate criminal proceedings were also on foot.
Key takeaways
In this update, we highlight a selection of key Court decisions which focus on cross-border recognition and assistance, restructuring and schemes of arrangement, the winding-up of foreign companies in Hong Kong and other insolvency-related issues.
This week’s TGIF looks at a recent decision of the Victorian Supreme Court, where a winding up application was adjourned to allow the debtor company to pursue restructuring under the recently introduced small business restructuring reforms.
Key takeaways
Unlike the GFC, which was essentially a liquidity crisis, Australia is likely to face a gradual increase in business insolvencies, rather than the feared ‘insolvency cliff’, as the Federal Government’s COVID-19 stimulus measures are wound down at the end of March.
This week’s TGIF focuses on themes that are emerging as Australia moves to an economic recovery phase and sees the end of government intervention to prevent insolvencies.
Key takeaways
In Re Lamtex Holdings Limited1, the Hong Kong Companies Court recently ordered the winding-up of a Bermuda-incorporated Hong Kong-listed company.
This week’s TGIF considers the decision of the Supreme Court of New South Wales In the matter of Gearhouse BSI Pty Ltd [2021] NSWSC 98. In this case, one of the joint venture parties obtained an order to wind up the joint venture on the basis that the underlying purpose of the business had failed.
Key takeaways
This week’s TGIF considers an application to wind up a company on just and equitable grounds. The Court declined to make the order, finding the suggested deadlock had an air of artificiality and the application was infused with self-interest.
Key takeaways