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    When and Should Liquidators Enter into a Settlement Agreement
    2025-10-03

    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

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Financial services, Insolvency, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Administrators Granted Relief from Personal Liability and Time Extended to Register
    2025-10-03

    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

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Financial services, Personal Property Securities Act 2009 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Administrator Appointment Confirmed Despite Procedural Irregularity
    2025-10-03

    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

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Financial services, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Navigating Construction Industry Insolvency: Monitoring Insolvent Trading Risks
    2025-09-30

    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.

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Company & Commercial, Compliance Management, Construction, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Financial services
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Federal Court of Australia Exercises Statutory Power to ‘Stay’ and then terminate a Wind-Up Pending Effectuation of DOCA
    2025-09-30

    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

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Deed of company arrangement, Financial services, Administration, Corporations Act 2001 (Australia), Federal Court of Australia
    Authors:
    Blake Shaw
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    DOCA Administrator Granted Leave to Transfer Shares and Options
    2025-09-26

    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. 

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Deed of company arrangement, Financial services, Administration, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    De Facto Director Liable for Insolvent Trading
    2025-09-16

    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.

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Bankruptcy, Dispute resolution, Directors' duties, Financial services, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Federal Court of Australia Upholds India’s State Immunity Claim, Narrowing Scope of Enforcement Under the New York Convention
    2025-06-30

    Introduction

    Filed under:
    Australia, Canada, Hong Kong, India, Singapore, United Kingdom, USA, England, Banking, Insolvency & Restructuring, Litigation, Ironbridge Legal, Corporate governance, Bankruptcy, Dispute resolution, Financial services, Corporations Act 2001 (Australia), International Arbitration Act 1974 (Australia), Federal Court of Australia
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, India, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Navigating Construction Industry Insolvency: Red Flags and Precautionary Measures
    2025-06-18

    Introduction

    In this first instalment of our insights series on construction insolvency, Ironbridge Legal outlines key red flags to look for and practical steps to manage counterparty risk.

    An Industry at Risk - With Contagion Potential

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Insolvency & Restructuring, Litigation, Ironbridge Legal, Corporate governance, Bankruptcy, Dispute resolution, Directors' duties, Financial services, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane , Jacqueline Ma
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    Directors Have a Duty to Prevent Insolvent Trading: Understanding ASIC’s Updated Guidance
    2025-06-11

    Introduction

    In December 2024, Australian Securities and Investments Commission (ASIC) released an updated version of Regulatory Guide RG 217. The guidance is designed to assist directors in complying with their duty to prevent insolvent trading. It sets out four key principles for directors to avoid insolvent trading, explains the safe harbour defence (which offers protection from personal liability), and clarifies ASIC’s approach to assessing breaches of duty and the application of the safe harbour defence.

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Corporate governance, Dispute resolution, Compliance, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal

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