This week’s TGIF considers In the matter of Guided Knowledge Group Pty Ltd [2022] NSWSC 255 in which a liquidator sought approval for his remuneration under Schedule 2 of the Corporations Act 2001 (Cth).
Key Takeaways
In a recent decision of the Federal Court of Australia (Re WHBO Australia Pty Ltd[2022] FCA 234), Administrators of the Probuild group of companies (the Probuild Group) were granted a three-month extension for the convening period for the second meeting of Creditors largely due to the ‘size and complexity’ of the companies involved.
Key Takeaways
The National Security and Investment Act 2021 ("NSIA" or "the Act") came into force in the UK on 4 January 2022. NSIA expands the UK Government’s powers to scrutinise certain acquisitions and investments on national security grounds. NSIA applies where a target entity is within one of the 17 sensitive sectors set out in the Act and has activity in the UK. The UK Government’s power applies to transactions which complete in the period following 12 November 2020.
In the recent case of Stubbings v Jams 2 Pty Ltd [2022] HCA 6, the High Court has allowed an appeal relating to asset-based lending (ABL) and the enforceability of security associated with these loans. The High Court held that whilst asset-based lending itself is not unconscionable, certain conduct may render loans and security unenforceable. The decision is a reminder that lenders should ensure the circumstances of potential borrowers are fully scrutinised prior to lending.
This week’s TGIF considers the recent decision of In the matter of PIC Lindfield 19 Pty Ltd (in liq)[2022] NSWSC 271, in which former directors of the company in liquidation failed to set aside summonses for public examination on the basis of alleged non-disclosure by the liquidators.
Key Takeaways
This week’s TGIF examines the decision of the Supreme Court of New South Wales in In the matter of Jana Pty Ltd [2022] NSWSC 112, considering whether a ‘genuine dispute’ exists in relation to a debt claimed in a statutory demand where the debt arises from a poorly drafted deed.
Key Takeaways
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
The pandemic has brought much uncertainty to the hotel sector — Intermittent national and regional lockdowns, work from home mandates and restrictions around domestic and international travel have left hoteliers in the unenviable position of keeping the lights on but without the occupancy or footfall of pre-2020. Government measures have no doubt helped, especially the ability to furlough large sections of the workforce, but as these measures are tapered down, some hotels – particularly city centre and airport hotels which rely on business travel — will struggle.
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