Australia has posted a record fall in its GDP in 2020. At the same time, following a series of temporary measures introduced due to COVID-19, Australian insolvency filings have hit record lows.

In the previous four articles in this series (see here) we looked at the key role of professional investors at startups, though also at the setbacks of the exclusive dependence of these types of companies on equity and the advantages debt would have for them. The environment, as we saw, is also a favorable one for borrowing. We described the difficulty to provide general recipes for getting debt and a few not very promising routes.

En los cuatro artículos anteriores de esta serie (ver aquí) analizamos el papel clave de los inversores profesionales en las 'startups', pero también las desventajas de la exclusiva dependencia de este tipo de empresas del 'equity' y las ventajas que tendría la deuda para ellas. El entorno, como vimos, es además favorable para el endeudamiento. Abordamos la dificultad de ofrecer recetas generales para conseguir deuda y algunas vías no muy prometedoras.

This week’s TGIF looks at a recent case where the Federal Court ordered the reinstatement of two companies to allow proceedings to be commenced against the liquidator of those companies for alleged breaches of duty (Lee v Parker [2020] FCA 1453).

Key takeaways

This week’s TGIF looks at the decision of the Supreme Court of Victoria in Re Barokes Pty Ltd (in liq)

La Ley Concursal define insolvencia como la incapacidad del empresario para cumplir regularmente con sus obligaciones exigibles.

This week’s TGIF looks at the NSW Supreme Court’s recent guidance on factors relevant to whether a winding up ought be terminated.

Key takeaways

This week’s TGIF discusses the key elements of the Federal Government’s recently announced reforms to insolvency laws for businesses with liabilities below $1 million.

Key takeaways

Analizamos la Ley 3/2020, de 18 de septiembre, de medidas procesales y organizativas para hacer frente al COVID-19 en el ámbito de la Administración de Justicia para comprobar qué hay nuevo y qué ha cambiado esta nueva regulación respecto a la norma que la precedió, el RDL 16/2020 publicado durante la primera oleada de la pandemia.

This week’s TGIF looks at a decision of the Supreme Court of New South Wales where a liquidator sought to distribute a surplus of $8.7 million despite one of the shareholders who was potentially entitled to a portion of the surplus being bankrupt and a debtor of the company.

Key takeaways