Winding up proceedings - reluctance of the courts to grant adjournments where recovery of ATO revenue is prejudiced

The recent case of Deputy Commissioner of Taxation v Bayconnection Property Developments Pty Limited [2012] FCA 363 is a rare example of the Court allowing an adjournment of a winding up application in connection with a tax debt pending an appeal.

Facts

Filed under:
Australia, Insolvency & Restructuring, Litigation, Tax, Corrs Chambers Westgarth, Debt, Liquidation, Federal Court (Canada)
Location:
Australia
Firm:
Corrs Chambers Westgarth
Canada Revenue Agency trumps unsecured creditors!

In a sleight-of-hand move dexterously played by the Canada Revenue Agency ("CRA"), it managed to secure advance collection of a disputed corporate income tax debt by obtaining an ex parte jeopardy collection order after the CRA was notified of an application by the taxpayer to appoint a receiver.

Filed under:
Canada, Ontario, Insolvency & Restructuring, Litigation, Tax, WeirFoulds LLP, Bankruptcy, Debtor, Unsecured debt, Res judicata and issue estoppel, Debt, Ex parte, Capital punishment, Unsecured creditor, Canada Revenue Agency, Bankruptcy and Insolvency Act 1985 (Canada), Income-Tax Act 1961 (India), Trustee, Court of Appeal for Ontario, Federal Court (Canada)
Authors:
Maralynne A. Monteith
Location:
Canada
Firm:
WeirFoulds LLP
Set-off or security interest? Supreme Court’s expansion of enhanced federal deemed trust provisions raises some troubling issues

Caisse Populaire Desjardins de l’Est de Drummond v. Canada, 2009 SCC 29

Filed under:
Canada, Banking, Insolvency & Restructuring, Litigation, McMillan LLP, Income tax, Personal property, Maturity (finance), Unemployment benefits, Line of credit, Secured creditor, Canada Revenue Agency, Income-Tax Act 1961 (India), Supreme Court of Canada, Federal Court (Canada)
Authors:
Robert M. Scavone
Location:
Canada
Firm:
McMillan LLP