When WeWork faced turmoil globally, leading its U.S. parent company to file for bankruptcy protection in 2023, few expected its Indian affiliate to become a case study in strength and discipline. Once seen as a symbol of the “new economy,” WeWork’s downfall illustrated the dangers of excessive growth, inflated valuations, and weak governance where the promise of change often exceeded execution. In this context, WeWork India operated under a brand license and was supported by the Embassy Group, taking a different route.

In Re Resource Development Group Limited (Administrators Appointed) [2025] WASC 408, the Court granted relief to the voluntary administrators of Resource Development Group Ltd (RDG) from personal liability under a loan arrangement and extended time for the registration of a related security interest.  

Key Takeaway

In Re Bayview Health – Matilda Bay Pharmacy Pty Ltd; ex parte Smith & Jacobs [No 2] [2025] WASC 405, the Court held that a failure to provide the 14 days’ notice of a board meeting, required by a shareholder agreement, to appoint a voluntary administrator, was a procedural irregularity that could be cured.

Key Takeaway

In Yeo (liquidator), in the matter of Tuftex Carpets Pty Ltd (in liquidation) [2025] FCA 1200 the liquidators sought approval from the court to enter into a settlement agreement. The claims underlying the settlement agreement were against the former director and parent company for insolvent trading and the resulting loss.

Key Takeaways

According to the latest statistics from the Australian Securities and Investments Commission (ASIC), the construction industry has faced sustained and accelerating financial distress over the past four years. Since FY 2021-2022, the number of insolvency appointments has almost tripled, with nearly 4,900 cases in FY 2024-2025 alone. And, the 744 cases already recorded for FY 2025-2026 indicate the construction industry continues to suffer severe financial distress.

In Otway (liquidator), in the matter of AMD Freight Pty Ltd (in liq) (No 2) [2025] FCA 1169 the Federal Court of Australia considered an application for termination of a winding up under the Corporations Act brought by the liquidators of AMD Freight Pty Limited (In Liquidation) (Compan

In a recent decision, In the matter of Toys “R” Us ANZ Limited (subject to deed of company arrangement) [2025] FCA 1135, the Federal Court provided important clarification as to its discretionary power to permit the administrator of a deed of company arrangement to transfer share in the company. 

Inthe matter of Trinco (NSW) Pty Ltd (in liq) [2025] NSWSC 993, the New South Wales Supreme Court found Mr Azizi to be a de facto director of Trinco (NSW) Pty Ltd (in liq) (Trinco) and liable for insolvent trading. Trinco’s liquidator was awarded compensation, payable by Mr Azizi.

INTRODUCTION:

英属维尔京群岛（“BVI”）一直积极应对去中心化自治组织（“DAO”）的法律影响，尤其是在破产背景下的资产和负债。虽然BVI没有专门针对DAO的具体立法，但现有法律和法律原则可用于评估DAO资产和负债的处理。

1. 法律结构: 英属维尔京群岛法律没有立法或判例法来定义什么是 DAO。在美国，法院曾考虑过 DAO 成员在某些情况下是否可以被视为合伙关系的问题。然而，迄今为止，这个问题尚未在英属维尔京群岛法院出现。DAO 可以完全去中心化，即由为共同目标而在某些治理协议或规则框架下运作的非法人团体。此外，许多在英属维尔京群岛运营的 DAO 通常以公司或有限合伙企业的形式设立，或者更常见的是，它们的组织方式是，DAO 成员的行动或集体决策通过由代币持有者管理的公司实体（例如通过担保有限公司）进行，以降低这种风险。法律结构会影响破产时资产和负债的处理。如果 DAO 以公司形式注册成立，则通常会遵循《英属维尔京群岛商业公司法》（修订版），该法规定了有偿付能力清算的框架，或遵循《英属维尔京群岛破产法》（修订版），该法规定了无偿付能力清算的框架。