The recent decision of Deputy Commissioner of Taxation v Premiercorp Pty Limited (Administrators Appointed) [2013] FCA 778 is a good example of the supervisory power played by the Court in the voluntary administration process and shows how a deed of company arrangement (DOCA) may be set aside where it is contrary to the interests of the creditors as a whole, even if the creditors vote in favour of the proposed DOCA.

Facts

A prohibition order in place on a development in Hassall Street, Parramatta, NSW, serves as a useful reminder for developers, builders and financiers of the importance of complying with the requirements of the Design and Building Practitioners Act 2020 (NSW) (DBP Act) and the Residential Apartment Buildings (Compliance and Enforcement Powers) Act 2020 (NSW) (RAB Act) (together, the Acts) (and the consequences of non-compliance).

This week’s TGIF considers an interlocutory decision of Ball J in the NSW Supreme Court in Aqua Botanical Beverages (Australia) Pty Ltd v Botanical Water Technologies Pty Ltd [2022] NSWSC 435, in which the Court dismissed an application to add an oppression claim where the company went into liquidation after commencing proceedings.

Key Takeaways

This week’s TGIF considers the recent Federal Court decision in Alfonso, in the matter of Pinnacle Fire Protection Pty Ltd (in liq) v Woods [2021] FCA 1402, where liquidators sought Court approval to enter a long-term settlement agreement.

Key Takeaways

This week’s TGIF considers a decision of the Federal Court which concerned a request for an extension to bring a voidable transaction claim where, but for COVID-19, the application would have been filed.

Key takeaways

This week’s TGIF looks at recent litigation involving Henclo Investments Pty Ltd, where the NSW Supreme Court refused an application to wind up a company on the basis that an outstanding debt alone is insufficient to show insolvency.

Key takeaways

This week’s TGIF considers the recent decision of the NSW Court of Appeal in the Arrium liquidation, where the Court set aside examination orders sought for the purpose of a possible shareholder class action.

Key takeaways

This week’s TGIF considers the Coronavirus Economic Response Package Omnibus Act 2020, which was passed in response to the economic impact of the coronavirus. Amongst other things, the Act makes significant changes to creditor’s statutory demands and insolvent trading laws.

The Act

This week’s TGIF considers the latest chapter in the story of Legend International Holdings Inc, where the Court of Appeal considered whether Legend was insolvent, whether mining tenements held by Legend’s subsidiary constituted ‘readily realisable assets’, and whether various deeds entered into by Legend were void as uncommercial transactions.

This week’s TGIF considers a recent insolvent trading claim involving novel questions in relation to privilege against self-incrimination and the apportionment of liability between successive directors.

Background