Key points

At-a-glance cases provided by Gatehouse Chambers’ Insolvency Team, featuring:

Introduction

In this case the Court applied traditional constructive trust principles to disputed facts in order to determine whether a specific property came within the estate of a bankrupt. It will be of interest to practitioners advising in the area of challenged transfers in the context of insolvency.

The Trustees in the bankruptcy of Shaun Collins made an application pursuant to s.339 Insolvency Act 1986, to challenge a disposition of land. The land in question was a flat and the disposition was a 2021 transfer of a flat in London.

Dispute Resolution analysis: In a judgment which brings to a conclusion the trial of the former BHS directors, the Court has held the directors joint and severally liable for the increase in net deficiency of the company arising out of breaches of duty which caused the company to continue trading.

Wright and others v Chappell and others; Re BHS Group Limited [2024] EWHC 2166 (Ch)

What are the practical implications of this case?

Welcome to the 2024 edition of "From Red to Black", our annual review of significant developments and topical issues in the Australian restructuring and insolvency market.

Regulator intervention and government stimulus packages in response to market shocks often mask underlying systemic distress and disrupt economic cycles. With companies now largely weaned off COVID-19 support packages, insolvencies have significantly increased.

By following certain steps and focusing on relevant courses of action, directors of startups can leverage the Safe Harbour provisions to increase their chances of navigating financial difficulties and achieving a better outcome for their company.

The Alita matter serves as a good illustration that if you intend to seek leave under section 444GA(1)(b) you should act swiftly and with regard to the potential regulatory risk.

With the mass of reports, reviews and consultations that have already occurred, there is no lack of critiques, complaints and proposed solutions. The risk is that these will (once again) be cherrypicked for fixes, rather than form the basis for a comprehensive review.

It has been 33 years since the "recession we had to have" in 1991. Fears that Australia would enter a technical recession during 2023 didn’t eventuate.

このたび、森・濱田松本法律事務所アジアプラクティスグループでは、東南・南アジ ア各国のリーガルニュースを集めたニュースレター、MHM Asian Legal Insights第160 号（2024 年 2 月号）を作成いたしました。今後の皆様の東南・南アジアにおける業務 展開の一助となれば幸いに存じます。 ※本レターに記載した円建て表記は、ご参照のために、各現地通貨を現在の為替レー トで換算したものとなります。

マレーシアの Income Tax Act 1967 が改正され、2024 年 1 月 1 日より、一定の会社 の株式の譲渡益はキャピタルゲイン課税の対象となりました。改正後も個人による譲渡 については課税対象外とされていますが、会社等の法人による譲渡の場合は一定の課税 が生じます。 2024 年 1 月 1 日からの譲渡益課税の対象となるのは、以下の会社の株式の譲渡益で す。

Despites its recent failure in case against an administrator in a phoenixing case, ASIC could snatch long-term victory from the jaws of defeat with clear regulatory guidance for insolvency practitioners.