In this week’s TGIF, we consider Morgan & Ors v McMillan Investment Holdings Pty Ltd & Anor [2023] HCATrans 122, a decision to grant special leave, paving the way for the High Court to clarify the law with respect to pooling orders.

Key takeaways

In this week’s TGIF, we consider ASIC v Bettles [2023] FCA 975 and ASIC v Jones [2023] WASCA 130, two cases which bring into focus the conduct of insolvency practitioners and alleged abrogation of their duties and independence.

Key takeaways

Selon la Banque de France, les procédures collectives affectant les moyennes entreprises sont en hausse de 85% sur un an. Cette tendance affecte particulièrement les entreprises de la French Tech pour des start-ups qui n’ayant pas trouvé leur modèle économique, se trouvent confrontées à un mur de dettes.

When do amounts owed to a company constitute ‘circulating assets’ and how should they be distributed? This crucial question has not always been answered predictably in recent cases. The Court of Appeal’s decision in Resilient Investment Group Pty Ltd v Barnet and Hodgkinson as liquidators of Spitfire Corporation Limited (in liq) [2023] NSWCA 118 has provided a framework for navigating the relevant principles in the context of a priority dispute over R&D tax refunds.

Key takeaways

Duties and Implications of financial Information in s.214 claims

Introduction

This article follows Part 1 in which I set out the key issues we have recently seen and the case law arising in Misfeasance and Wrongful Trading claims. This Part 2 considers the duties and implications surrounding the financial information that is available to directors when faced with a s.214 wrongful trading claim.

In this week’s TGIF, we consider Hutton, in the matter of Caydon Flemington Pty Ltd (Receivers and Managers appointed) (In liq) [2023] FCA 796, a Federal Court decision concerning the grant of an extension after the ‘critical time’ for the vesting of a security interest.

Key takeaways

This article is a part one of two series that explores the key issues we have recently seen and the case law arising in Misfeasance and Wrongful Trading claims.

Introduction

What is Wrongful Trading?

In this week’s TGIF, we consider Jahani, in the matter of Ralan Property Services Pty Ltd (receivers and managers appointed) (in liq) [2023] FCA 738, a Federal Court decision approving the liquidators’ entry into funding agreements.

Key takeaways

Selon Paul Chollet, économiste de Crédit Mutuel Arkea 2024 sera "une année noire" avec un record de défaillances d’entreprises en France. Cela fait maintenant 3 ans que les économistes prédisent un ras-de-marrée de défaillances. Cela étant, avec près de 49.000 de défaillances en France sur 12 mois glissants, il y a une tendance à un retour aux chiffres de 2019.

Il est donc indispensable de rappeler que des procédures de prévention (mandat ad hoc et la conciliation) sont là pour traiter les difficultés en amont de la défaillance.

In a recent case involving PT Garuda, the national airline of Indonesia, the New South Wales Court of Appeal dismissed an appeal by two creditors seeking to wind-up the airline, concluding that PT Garuda enjoyed immunity under the Foreign States Immunities Act 1985 (Cth).

Key takeaways