It is not uncommon for administrators to be appointed in the period between a company being served with a creditor’s winding up application and the date on which that application is to be heard. Despite their appointment, and unless the administrator attempts to intervene, the Court can and often will hear the winding up application and, if appropriate, order that the company be wound up and terminate the administration.

The Irish High Court has recently ruled on the test for determining whether the transfer of a debt is a "true sale" or is by way of a charge. It has, helpfully, adopted the well-established test taken in a long line of English cases which emphasises that the legal form of the contract adopted by the parties will determine its nature, provided the contract is not a "sham".

The Part 5.3A administration regime was introduced to facilitate orderly and timely outcomes for creditors. This is clearly evidenced by the relatively short time frame stipulated by the Corporations Act 2001 (Cth) (the Act) between when the first and second creditors’ meetings are to be held.

On 1 June 2017 a new law came into effect in New South Wales relevant to liquidators’ rights to directly pursue the insurer of a proposed defendant, taking away significant uncertainty which existed previously because of antiquated provisions in a 1946 act relating to charges over and priorities to those insurance monies.

The new law now provides greater certainty for liquidators in deciding whether to bring proceedings directly against the insurers of directors and officers or indeed of other third parties against whom the liquidators may have claims.

From 26 June 2017 an enhanced EU regime governing the commencement, recognition and enforcement of insolvency and restructuring proceedings throughout the EU will come into effect. The principal aim of the new regime is to encourage a corporate rescue culture within the EU.

The recent decision of the Supreme Court of Western Australia in Mighty River International Ltd v Hughes & Bredenkamp [2017] WASC 69 (Mighty River v Hughes) has confirmed the legality and the utility of ‘holding’ deeds of company arrangement (colloquially referred to as ‘Holding DOCAs’).

Hold what?

The Supreme Court of New South Wales recently considered section 420A of the Corporations Act2001 (Cth) (the Act) in the context of a Receiver selling secured property without first advertising and offering the property for sale by auction.

Justice Black in In the matter of Boart Longyear Limited[2017] NSWSC 537 has confirmed that section 411(16) of the Corporations Act 2011 (Cth) (the Act), can be used to provide companies proposing schemes of arrangement with appropriate protections from its creditors in a form that can be recognised under Chapter 15 of the US Bankruptcy Code.

The Personal Property Securities Act 2009 (Cth) (PPSA) applies to security interests in personal property including, but not limited to:

Alternative A of the Cape Town Convention [1] now has the force of law in Ireland, following signing of an Order by the Irish Government on 10 May 2017.

The Cape Town Convention was designed to establish a uniform set of rules to provide greater certainty and predictability around the protection, prioritisation and enforcement of rights in aircraft and aircraft engines. The Convention has a commercial objective, namely to facilitate efficient forms of asset-based financing.

Alternative A