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.
The Appellate Division of the Singapore High Court has in Goh Jin Hian v Inter-Pacific Petroleum Pte Ltd (in liquidation) [2025] SGHC(A) 7 allowed Dr Goh’s appeal against a US$146 million award, holding that breach of the duty of care, skill and diligence (the "Care Duty") does not automatically establish loss.
Effective January 1, 2026, the new Illinois Receivership Act will come effective to provide litigators in Illinois with expanded tools for creditors and distressed businesses to protect and manage assets during a business downturn. The Act does not apply to residential real estate with 1-6 dwelling units unless used for commercial purposes, receiverships under other laws such as the Illinois Mortgage Foreclosure Law and governmental receiverships.
This article examines whether a delay in implementing the Resolution Plan equates to failure of the plan or can timelines for implementation be extended?
Power to extend timelines
As general economic trends since COVID continue to cause turmoil in the construction industry, the value of surety bonds as a performance and financial backstop has become increasingly apparent. While contractors may encounter difficult conditions in the course of their operations, sureties are not only well-capitalized and capable of weathering the storm but also, depending upon the relevant bond wording, are able to step in proactively when their principals experience financial troubles affecting the performance of the work and payment of the subcontractors.
Nicola Sharp looks at the reasons why the court granted a £5m WFO against directors of a company in liquidation.
The High Court has granted a Worldwide Freezing Order to the value of over £5 million against directors of a company in liquidation, who are also husband and wife.
The couple, Sameer Rizvi and Iryna Dubylovska were the only acting directors and shareholders of the company.
Underlying claim for misfeasance
In the regime of insolvency and bankruptcy law in India, the question of when and how the liabilities of Personal Guarantors crystallize has become increasingly significant. Recent judgments by the National Company Law Appellate Tribunal (“NCLAT”) in Shantanu Jagdish Prakash v. State Bank of India & Ors. (Company Appeal (AT)(Ins.) 1609 of 2024), Mavjibhai Nagarbhai Patel v. State Bank of India & Anr. (Company Appeal (AT) (Ins.) Nos. 1702, 1711 & 1712 of 2024), Asha Basantilal Surana v. State Bank of India & Ors. (Company Appeal (AT) (Ins.) No.
Voor veel mensen betekent een bestuursfunctie binnen een vereniging een betrokken, maatschappelijk engagement. Maar wie bestuursverantwoordelijkheid op zich neemt, draagt ook juridische risico’s. Zeker wanneer de vereniging in financiële problemen raakt. Wat veel bestuurders niet beseffen, is dat zij onder omstandigheden persoonlijk kunnen worden aangesproken voor financiële tekorten na een faillissement.
For many people, a board position within an association means a committed, civic engagement. But those who assume board responsibility also bear legal risks. Especially when the association gets into financial trouble. What many directors do not realize is that, under circumstances, they can be personally liable for financial shortfalls after a bankruptcy.
This article offers insight into when and why directors of associations can be held liable, what legal frameworks underlie this, and how to reduce the risk of personal claims.
Under Turkish law, a joint-stock company’s liquidation follows its termination and ends with its deregistration. If the process is found incomplete—due to overlooked assets or ongoing disputes—supplementary liquidation allows temporary reinstatement of the company’s legal personality to finalize unresolved matters.
Introduction