As a parent of three young children, Disney’s excellent new movie, Encanto, has been on heavy rotation in my household. It’s a story of an extended family whose members possess unique magical gifts. Through several humorous songs, the film reveals that the family has ostracized one member, Bruno, whose mystical visions of future calamities upset the rest of the family. Rather than confront the unpleasant aspects of the future, the family finds it easier to simply “not talk about” them, or Bruno.
Companies work with experts to secure litigation favorable judgments only to face obstacles to enforcement. By learning how to “think like a bad debtor,” creditors can work with specialists to pursue multimillion judgments and uncollected awards.
In the matter of Squirrel Limited (In Liquidation), the Court considered an application for summary judgement against a director for insolvent trading. In doing so, the Court considered the principles underpinning a director’s duty to prevent insolvent trading and the compensation payable as a result.
Background
In Re Intellicomms Pty Ltd (in liq) [2022] VSC 228, it was determined that a sale agreement was a creditor-defeating disposition within the meaning of section 588FDB of the Corporations Act 2001 (Cth) (Act) and voidable pursuant to section 588FE(6B) of the Act.
In deze Kroniek wordt een selectie van de tussen mei 2021 en mei 2022 door de Hoge Raad gewezen arresten besproken. Daarbij komen onder meer uitspraken op het gebied van beroeps- en bestuurdersaansprakelijkheid, productaansprakelijkheid en werkgeversaansprakelijkheid aan de orde.
Recientes resoluciones judiciales han puesto en el foco la problemática aprobación judicial de una liquidación societaria cuando existe una situación de bloqueo por parte de alguno de los socios que impide adoptar acuerdos. Analizamos, a continuación, lo que han dicho los tribunales sobre los acuerdos sociales negativos y su posible impugnabilidad.
(SJM nº 13 de Madrid de 23 de marzo de 2021 y SAP de La Coruña de 1 de abril de 2022)
Background
If you have fraudulently obtained Covid-19 financial support, such as a Bounce Back Loan, you must be pretty worried by recent headlines that show company directors being disqualified, fined and jailed.
Elon Musk recently said he has a "super bad feeling" about the economy, pithily declaring what most financial commentators have been predicting in more technical terms.
Uncertain times have a knock-on effect on all aspects of life including business. The pandemic, Brexit, ever-rising inflation and now an energy crisis against the backdrop of war in Europe have made many businesses face financial difficulty.
Suppliers and customers alike are facing extraordinary pressures, and this can affect key supply contracts. This has meant the importance of insolvency law and practice in this area has risen considerably.
What happens if a customer becomes insolvent?