This week’s TGIF considers Thorn (liquidator), in the matter of South Townsville Developments Pty Ltd (in liq) [2022] FCA 143 in which a liquidator sought approval to enter agreements to pursue litigation and suppression orders to protect the disclosure of commercially sensitive details.

Key Takeaways

This week’s TGIF considers Re C88 Project Pty Ltd [2022] NSWSC 126, a New South Wales Supreme Court case which provides guidance on the effect of omitting prescribed information, and including claims for disputed judgment interest, on the validity a statutory demand.

Key Takeaways

Chapter 6 of the Companies Act, 2008 affords a financially distressed company a fighting chance to restructure its financial obligations and avoid the destruction of value through liquidation for the duration of its formal chapter 6 business rescue proceedings. Such a moratorium is not available if a company seeks to conclude a restructure through a compromise or arrangement with all its creditors or members of any class of creditors.

This week’s TGIF considers the recent High Court decision in Walton v ACN 004 410 833 Limited (formerly Arrium Limited) (in liquidation) [2022] HCA 3, which provides guidance on the range of potential purposes for which an examination of company officers may be legitimately pursued by ‘eligible applicants’.

Key Takeaways

This week’s TGIF considers the decision in Re BBY Limited (Receivers and Managers Appointed) (in liq) [2022] NSWSC 29, where the Court discussed the necessary elements of a Quistclose trust in the context of alleged unfair preferences.

Key Takeaways

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

On March 23, 2020, we commented on the Quebec Court of Appeal’s decision in the Arrangement relating to Consultants SM inc. case. The City of Montreal (the “City”) appealed this decision to the Supreme Court of Canada and the appeal was heard on May 20, 2021.

On December 10, 2021, the Supreme Court of Canada (the “Supreme Court”) dismissed the City’s appeal, thereby rendering an important decision with respect to “pre-post compensation” and “non-dischargeable debts” under the Companies’ Creditors Arrangement Act (the “CCAA”).

Le 23 mars 2020, nous avons commenté l’arrêt de la Cour d’appel du Québec dans le dossier Arrangement relatif à Consultants SM inc. La Ville de Montréal (la « Ville ») a porté cet arrêt devant la Cour suprême du Canada et l’audition du pourvoi a eu lieu le 20 mai 2021.

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