1.- Antecedentes

Key Points:

The NSW Supreme Court says it can provide directions on an administrator's commercial decision on the basis of the liability assumed by administrators and their partners.

1. Introducción

Entre las medidas de refinanciación de las empresas con problemas de solvencia o liquidez que ha previsto el Real Decreto-ley 4/2014, de 7 de marzo, destacan los estímulos para incentivar la conversión en capital (acciones o participaciones) de la deuda financiera, cuyos costes a menudo lastran la supervivencia de la empresa.

El Real Decreto-ley 4/2014, de 7 de marzo, por el que se adoptan medidas urgentes en materia de refinanciación y reestructuración de deuda empresarial, ha modificado el régimen de la Ley Concursal en lo relativo a los acuerdos de refinanciación.

Si bien podría decirse que la práctica totalidad de la reforma se refiere de una u otra forma a ellos, el núcleo de la regulación, el que define los requisitos que han de cumplir este tipo de acuerdos para quedar protegidos frente a las acciones de reintegración concursales, ha quedado localizado en el artículo 71 bis.

The UNCITRAL Model Law on Cross-Border Insolvency is designed to supplement States' insolvency laws with a framework to address cross-border insolvency proceedings.

The High Court has ruled that liquidators of lessors can disclaim leases, thus terminating the leasehold interests of tenants.

However, yesterday's High Court decision in Willmott Growers Group Inc. v Willmott Forests Limited (Receivers and Managers Appointed) (In Liquidation) [2013] HCA 51 leaves open another issue: do liquidators need to get Court approval before exercising this power, and, if so, how easy or difficult would it be to get that approval?

Key Points

Key Points:

For a company to be entitled to subrogation under section 560, it must ensure that it meets the strict requirements of section 560 and does not pay entitlements directly to the relevant company's employees.

Six month extensions to convening periods should not be seen as a fait accompli, particularly if the administrator's application is opposed.

There is a commonly held belief that courts will readily grant an administrator's application for an extension to the convening period. This might have been true once, but it is fast turning into an urban myth, judging by two recent decisions in the Federal Court.

The recent decision of Modcol Pty Ltd v National Buildplan Group Pty Ltd ^[1] addressed whether leave should be granted to a subcontractor to allow it to commence proceedings against a contractor in administration in respect of the subcontractor's rights under the Building and Construction Industry Security of Payment Act 1999 (NSW) (the SOP Act).

The NSW Government has accepted some of the key recommendations of the Recommendations of the Independent Inquiry in Construction Industry Insolvency in NSW, including the introduction of bonds. We know that the Government will: