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    Guiding principles in relation to the appointment of liquidators
    2020-06-11

    The Federal Court of Australia in Frisken, in the matter of Avant Garde Investments Pty Ltd v Cheema [2020] FCA 98 has considered a dispute between a receiver and the director of the company as to whether the provisional liquidator, Mr Banerjee, should be appointed as the liquidator. 

    The director sought the appointment of different liquidators on the basis that Mr Banerjee’s conduct as provisional liquidator was such that a reasonable person might apprehend that he might not be impartial as liquidator. 

    Filed under:
    Australia, New Zealand, Insolvency & Restructuring, Litigation, Buddle Findlay, Federal Court of Australia
    Authors:
    Annie Cao , Luke Sizer , Myles O'Brien , Jan Etwell , David Perry , Peter Niven , Matthew Triggs , Oliver Gascoigne , David Broadmore , Scott Abel , Scott Barker , Willie Palmer , Kelly Paterson , Bridie McKinnon
    Location:
    Australia, New Zealand
    Firm:
    Buddle Findlay
    Director's entitlement to receiver's books justified
    2016-12-13

    In Navarac v Pty Ltd v Carrello [2016] WASC 327, the court-appointed receiver and manager of Esperance Cattle Company Pty Ltd had applied for orders from the court to conclude the receivership.

    In order to prepare evidence and submissions to oppose the receiver's application, a director of the company applied to inspect certain documents, which she asserted were or might be held by the receiver.

    Filed under:
    Australia, Western Australia, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay, Corporations Act 2001 (Australia)
    Authors:
    Myles O'Brien , Susan Rowe , Bridie McKinnon , Scott Abel , David Perry , Peter Niven , Scott Barker , Jan Etwell , Willie Palmer , Kelly Paterson
    Location:
    Australia
    Firm:
    Buddle Findlay
    Liquidation of corporate trustee - access to trust assets
    2013-06-25

    The recent Australian Federal Court case of Neeat Holdings (in liq) [2013] FCA 61 considered the issue of whether the liquidator of a trustee company should be permitted to sell trust assets notwithstanding the appointment of a new trustee in substitution for the insolvent trustee company.

    Filed under:
    Australia, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay, Liquidation, Liquidator (law), Federal Court of Australia, Trustee
    Location:
    Australia
    Firm:
    Buddle Findlay
    Legal update on insolvency law - April 2020
    2020-04-09

    High Court provides guidance on voluntary administration and creditors’ meetings under COVID-19 Alert Level 4

    A recent decision of the High Court provides helpful guidance for insolvency practitioners on how aspects of the voluntary administration regime should operate in the context of the COVID-19 pandemic.

    Filed under:
    Australia, Hong Kong, New Zealand, United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Buddle Findlay, Board of directors, Liquidation
    Authors:
    David Broadmore , David Perry , Jan Etwell , Kelly Paterson , Scott Abel , Scott Barker , Willie Palmer , Peter Niven , Myles O'Brien , Bridie McKinnon , Matthew Triggs , Oliver Gascoigne , Luke Sizer , Annie Cao
    Location:
    Australia, Hong Kong, New Zealand, United Kingdom
    Firm:
    Buddle Findlay
    Slater & Gordon's losses continue
    2016-09-29

    Australian-listed Slater & Gordon, the world’s first publicly traded law firm, is preparing to post what is understood to be legal sector’s biggest ever annual loss.  A profit warning filed with the Australian Securities Exchange, reveals the firm's full-year net loss after tax for the year ended 30 June is expected to total A$1,017.6m. 

    Filed under:
    Australia, Insolvency & Restructuring, Legal Practice, Buddle Findlay
    Authors:
    David Perry , Jan Etwell , Scott Abel , Scott Barker
    Location:
    Australia
    Firm:
    Buddle Findlay
    Australian court allows liquidators to recover remuneration and costs from general trust funds
    2013-04-03

    The recent New South Wales Supreme Court decision In re MF Global Australia Ltd (in liq) No 2 [2012] NSWSC 1426 confirmed that the remuneration, costs and expenses incurred by liquidators in preserving, recovering and realising trust assets should be paid out of the trust property generally, rather than being restricted to assets held on trust for the benefit of the company itself.

    Filed under:
    Australia, New South Wales, Insolvency & Restructuring, Litigation, Buddle Findlay, Costs in English law
    Authors:
    David Perry , Scott Barker , Willie Palmer
    Location:
    Australia
    Firm:
    Buddle Findlay
    Australian insolvency practices to undergo ombudsman inquiry
    2019-12-11

    On 10 October 2019 the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, announced an upcoming inquiry into insolvency practices. The inquiry was announced in light of rising concerns as to the efficacy of the voluntary administration process for SMEs and family-owned businesses, and concerns with the conduct of insolvency practitioners more generally.

    Filed under:
    Australia, New Zealand, Insolvency & Restructuring, Buddle Findlay
    Authors:
    David Broadmore , David Perry , Jan Etwell , Kelly Paterson , Scott Abel , Scott Barker , Susan Rowe , Willie Palmer , Peter Niven , Myles O'Brien , Bridie McKinnon , Matthew Triggs , Oliver Gascoigne
    Location:
    Australia, New Zealand
    Firm:
    Buddle Findlay
    Personal injury and bankruptcy
    2016-09-29

    In Berryman v Zurich Australia Ltd, the Supreme Court of Western Australia considered the claim of a bankrupt who had brought an action against his insurance company for breach of contract following its denial of his total disability claim (the bankrupt had claimed under the policy for A$2m). 

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, Buddle Findlay
    Authors:
    David Perry , Jan Etwell , Scott Abel , Scott Barker
    Location:
    Australia
    Firm:
    Buddle Findlay
    Administrators may be protected from liability in times of need
    2012-12-20

    The Federal Court of Australia in KASH Aboriginal Corporation ICN 108 (Administrators Appointed) No 2, held that, in certain circumstances, administrators may be granted protection from personal liability for debts incurred as part of the administration of a corporation.

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, Buddle Findlay
    Authors:
    David Perry , Scott Barker , Willie Palmer
    Location:
    Australia
    Firm:
    Buddle Findlay
    Farm debt mediation scheme
    2019-06-21

    The Government has now announced its intention to proceed with the introduction of a bill to establish a farm debt mediation scheme, based in many respects on comparable New South Wales legislation. It is important for secured lenders to farming enterprises to consider in advance the implications of the bill and the necessary changes to product design, documentation, client relationship management and enforcement processes which may be required.

    The scheme is intended to provide for fair, equitable and timely resolution of farm debt issues with two key objectives:

    Filed under:
    Australia, New Zealand, Arbitration & ADR, Banking, Insolvency & Restructuring, Buddle Findlay
    Authors:
    Scott Abel
    Location:
    Australia, New Zealand
    Firm:
    Buddle Findlay

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