This appeal concerned (inter alia) whether an application for an order for sale made under s.335A of the Insolvency Act 1986 (‘IA 1986’) should be made by an application notice issued under the Insolvency Rules 2016 (‘IR 2016) or by a Part 8 Claim Form issued under the Civil Procedure Rules (‘CPR’).
Factual Background
This week’s TGIF considers the recent Federal Court decision in Alfonso, in the matter of Pinnacle Fire Protection Pty Ltd (in liq) v Woods [2021] FCA 1402, where liquidators sought Court approval to enter a long-term settlement agreement.
Key Takeaways
This week’s TGIF considers In the matter of Habibi Waverton (in liquidation) (administrator appointed) [2021] NSWSC 1443, a recent decision of the Supreme Court of NSW in which the Court opted to use its general powers to allow a voluntary administrator to transfer shares without the owner’s consent to implement a DOCA.
Key Takeaways
Introduction
In Re Bronia, ICC Judge Burton had to consider whether a director could retrospectively re-characterise a director’s loan as ‘drawings’ in order to release the director from liability to the company. ICC Judge Burton concluded that such an approach was impermissible.
Facts
This week’s TGIF considers a recent decision of the Federal Court of Australia in Re Aviation 3030 Pty Ltd (in liq) [2021] FCA 1244 on section 477(2B) of the Corporations Act 2001 (Cth) (Corporations Act) and approval of a liquidator’s proposal to enter into a settlement agreement with obligations that extend beyond three months.
Key Takeaways
This week’s TGIF considers a recent decision of the Federal Court where a company was found to be ‘insolvent’ for the purposes of assessing breach and termination of a contract, despite its subsequent survival and ongoing trading.
Key Takeaways
These case summaries first appeared in LexisNexis’ Insolvency Case Alerter. They represent some of the more interesting insolvency decisions to have been published recently.
This summary covers:
This week’s TGIF looks at In the matter of Gary John Anderson in his capacity as liquidator of G & G Contractors Pty Ltd (In Liquidation) [2021] FCA 1185, the latest of a line of Federal Court decisions confirming the approach to be taken by liquidators of trustee companies that have ceased to be trustees as a result of going into liquidation.
Key Takeaways
This week’s TGIF considers a decision of the Supreme Court of New South Wales on whether leave should be granted for proceedings against a court-appointed liquidator personally.
Key Takeaways