In a recent decision handed down in Gold Valley Iron Pty Ltd (in liq) v OPS Screening & Crushing Equipment Pty Ltd [2022] WASCA 134, Liquidators succeeded in establishing an ‘equipment lease with an option to purchase’ clause as being a security interest under the Personal Property Securities Act 2009 which needed to be registered by the owner.
Key takeaways
De Herstructureringsrichtlijn van 20 juni 2019 zorgt voor het eerst op Europees niveau voor een harmonisatie van de wetgeving omtrent insolventie.
Een belangrijk onderdeel van deze Richtlijn heeft betrekking op preventieve herstructureringsstelsels, die tot doel hebben de vereffening van levensvatbare ondernemingen te vermijden.
In België zal dit voornamelijk een impact hebben op de gerechtelijke reorganisatie, en meer bepaald op de gerechtelijke reorganisatie door een collectief akkoord.
This week’s TGIF examines the decision in Re Farley Bay (in liq) [2022] VSC 604, where an insolvency proceeding was successfully transferred to the Federal Circuit and Family Court despite the Supreme Court of Victoria considering the Applicant’s ultimate proprietary claims to be ‘weak’.
Key takeaways
The Restructuring Directive of 20 June 2019 harmonises insolvency legislation for the first time at the European level.
An important part of this Directive concerns preventive restructuring frameworks, which aim to limit the unnecessary liquidation of viable companies.
In Belgium, this will mainly impact judicial reorganisation, and more specifically judicial reorganisation by means of collective agreement.
La directive du 20 juin 2019 relative aux restructurations harmonise pour la première fois la législation sur l'insolvabilité au niveau européen.
Une partie importante de cette directive concerne les cadres de restructuration préventive, qui visent à limiter la liquidation inutile d'entreprises viables.
En Belgique, cela aura principalement un impact sur la réorganisation judiciaire, et plus particulièrement sur la réorganisation judiciaire par accord collectif.
This week’s TGIF considers a recent case in which the Federal Court of Australia upheld a liquidator’s decision to reject a proof of debt for damages relating to a failed sale of commercial property.
Key takeaways
This week’s TGIF considers Campbell J’s recent decision in Blackcitrus Pty Ltd (in liquidation) v Parramatta Rugby Club Limited [2022] NSWSC 1329, refusing to order security for costs and determining whether to strike out defences based on alleged past breaches of NRL salary cap rules.
Key takeaways
The Parliamentary Joint Committee on Corporations and Financial Services has commenced an inquiry into Australia’s corporate insolvency regime. The inquiry, due to be completed by 30 May 2023, will examine the effectiveness of the current regime and consider potential reform.
Key takeaways
This week’s TGIF examines Sentinel Orange Homemaker Pty Ltd v Davis Investment Group Holdings Pty Ltd (in liquidation) (No 2) [2022] NSWSC 1171 where a court considered an application for non-party costs orders against a litigation funder and the liquidator of an insolvent defendant.
Key takeaways
This week’s TGIF considers a recent decision of the Federal Court of Australia in which the Court relieved administrators of liability for entering a funding agreement with a major creditor in order to keep the company trading.
Key takeaways