Superannuation Entitlements are not always Protected in Bankruptcy

When an individual becomes bankrupt, the bankrupt’s property vests in the bankruptcy Trustee with a number of exceptions. One exception is in respect of the bankrupt’s interest in a regulated superannuation fund, an approved deposit fund or an exempt public sector superannuation scheme.

Filed under:
Australia, Insolvency & Restructuring, Tax, Broadley Rees Hogan, Bankruptcy, Debtor, Australian Taxation Office, Trustee
Authors:
Jon Broadley
Location:
Australia
Firm:
Broadley Rees Hogan
E-Alert No. 3 of 2016: Building, Engineering, Construction and Infrastructure

What’s insolvency got to do with it….

Times are tough in the Queensland construction industry.

In recent times we have seen the demise of names such as Glezeil, Carmichael Builders, SX Projects, TRAC Construction, Gary Deane Constructions and JM Kelly (Project Builders) Pty Ltd.

Insolvency affects all industries, but, given the hierarchical nature of construction contracts, when a construction company is unable to pay its bills, it can cause devastating results both up and down the contractual line:

Filed under:
Australia, Queensland, Construction, Insolvency & Restructuring, Broadley Rees Hogan
Authors:
Brent Turnbull
Location:
Australia
Firm:
Broadley Rees Hogan
PPS Leases - Owner of Goods Loses Title to Liquidator of Tenant

The New South Wales Supreme Court case of Forge Group Power Limited (in liquidation) (receivers and managers appointed) v General Electric International Inc [2016] NSWSC 52 provides guidance on the following issues in relation to the Personal Property Securities Act 2009 (Cth) (the PPSR):

Filed under:
Australia, New South Wales, Insolvency & Restructuring, Litigation, Real Estate, Broadley Rees Hogan, Personal property, General Electric
Authors:
Robert Lyons
Location:
Australia
Firm:
Broadley Rees Hogan