This week’s TGIF considers a recent decision of the Supreme Court of New South Wales, Re Antqip Pty Ltd (in liq) [2021] NSWSC 1122, concerning whether section 588FL of the Corporations Act2001 (Cth) applied to vest a security interest in the company that was granted after the ‘critical time’.

Key Takeaways

This week’s TGIF considers the recent ruling of the Federal Court of Australia in Tuscan Capital Partners Pty Ltd v Trading Australia Pty Ltd (in liq)[2021] FCA 1061, where a liquidator’s decision to accept a ‘proof of debt’ was successfully challenged due to a lack of evidence that

This week’s TGIF examines a decision where the Court ordered a director, who caused a company to bring proceedings challenging a receiver appointment, to be joined to the claim and indemnify the company for its exposure to a costs order.

Key Takeaways

Following its approval on 5th August 2021 by the Council of Ministers, the Law-Decree n. 118 was published on 24th August into the G.U. n. 202 about the topic of "Urgent measures in the field of business crises and business reorganisation, as well as further urgent measures in the field of justice". 

Firstly, the Law-Decree postpones the entry into force of the Italian Crisis Code until 16th May 2022 (Art. 1, letter a), further postponing to 31 December 2023 the “crisis alert related procedures” introduced by Article 12 of the Crisis Code. 

A seguito dell’approvazione avvenuta il 5 agosto 2021 da parte del Consiglio dei ministri, è stato pubblicato il 24 agosto in G.U. n 202 il Decreto-legge n. 118 in tema di “Misure urgenti in materia di crisi d’impresa e di risanamento aziendale, nonché ulteriori misure urgenti in materia di giustizia”. 

Il Decreto in primo luogo differisce l’entrata in vigore del Codice della Crisi al 16 maggio 2022 (art. 1, lett. a), posticipando ulteriormente al 31 dicembre 2023 le procedure di allerta della crisi introdotte dall'art. 12 CCI. 

This week’s TGIF looks at a recent Federal Court decision which offers guidance on when receivers may be released from claims arising out of their appointment and relieved from filing and serving formal accounts.

Key Takeaways

The recent Victorian Supreme Court of Appeal case of Quin v Vlahos [2021] VCSA 205 has clarified when third party funds, such as a sole director’s personal bank account, can be taken into account in determining a company’s solvency.

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This week’s TGIF considers a recent case where the Supreme Court of Queensland rejected a director’s application to access an executory contract of sale entered into by receivers and managers on the basis it was not a ‘financial record’

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This week’s TGIF looks at the decision of the Federal Court of Australia in Donoghue v Russells (A Firm)[2021] FCA 798 in which Mr Donoghue appealed a decision to make a sequestration order which was premised on him ‘carrying on business in Australia' for the purpose of section 43(1)(b)(iii) of the Bankruptcy Act 1966 (Cth) (Act).

Key Takeaways

This week’s TGIF considers the decision of Palace v RCR O’Donnell Griffin Pty Ltd (in liq)[2021] QCA 137, in which the Queensland Court of Appeal provided useful guidance on the principles to be applied when a party seeks leave under section 500(2) of the Corporations Act 2001 (Cth) to bring proceedings against a company in liquidation.

Key Takeaways