Business rates liability is complex and the question of who is liable if occupiers become insolvent is one that often arises during periods of economic uncertainty, such as the pandemic.
Business rates liability for insolvent companies
Business rates liability attaches to specific units of property known as “hereditaments”.
This week’s TGIF considers the decision of Wallace (Liquidator), in the matter of Avestra Asset Management Ltd (In Liq) v Dempsey [2021] FCA 1643 in which the Court granted liquidators leave to amend their pleading following a mistake in the naming of the plaintiff.
Key Takeaways
Insolvency related claims in relation to contracts subject to arbitration agreements continue to result in interesting challenges for the English court. In a recent decision the court had to decide whether an application for a summary judgment amounted to a step in the proceedings such that the applicant had waived its right to seek a stay in favour of arbitration.
Background
This week’s TGIF considers a recent decision that provides guidance on how and when a liquidator can sell partnership assets held by an insolvent corporate partnership manager to satisfy creditors’ claims.
Key Takeaways
This week’s TGIF considers the recent ruling of the Queensland Supreme Court in Re Gulf Aboriginal Development Company Ltd[2021] QSC 310, where the Court dismissed an application to terminate the winding up of Gulf Aboriginal Development Company Limited (Gulf).
Key Takeaways
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
A recent Court of Appeal decision has criticised obiter comments made by the Supreme Court in Bresco v Lonsdale to the effect that adjudication decisions in favour of companies in liquidation could in certain circumstances, and with appropriate safeguards, be enforced by way of summary judgment. The Court of Appeal has indicated that such an approach would be at odds with the mandatory right of set-off arising under the Insolvency Rules. The Court of Appeal’s comments in this respect are themselves obiter and will give rise to uncertainty in this area of the law.
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