The Supreme Court of New South Wales has clarified the circumstances in which a liquidator may recover deposit funds paid to a third party and the extent to which a counterparty may rely on the good-faith defence under section 588FG of the Corporations Act 2001 (Cth).

Bankruptcy Petition Dismissed: Court Reaffirms Low Threshold for Demonstrating Debtor’s Intention to Arbitrate In Resisting a Bankruptcy Petition

Introduction

Overview

In a recent judgment in Target Insurance Company Limited v Nerico Brothers Limited & Lee Cheuk Fung Jerff [2025] HKCA 1024 the Court of Appeal has clarified that a director can be made personally liable for the costs incurred by a company under their control and that unreasonably opposes its winding up.

Background

In a recent decision, Deputy High Court Judge Gary CC Lam dismissed an application to strike out an unfair preference claim brought by the liquidators of RZ3262019 Limited. The judgment provides a significant analysis of issue estoppel, particularly on the novel question of how an issue is characterised when a foreign court has applied a different, higher standard of proof.

Background

2025年8月11日，香港高等法院法官陈静芬对华南城控股有限公司（以下简称“华南城”）下达清盘令。根据路透社报道，华南城是自2021年中国房地产行业陷入债务危机以来，首家在香港被清盘的国有背景房地产开发商。

背景

华南城及其子公司集团（以下简称“集团公司”）是在内地8个主要城市以品牌名称“华南城”运营大型综合物流与交易中心的房地产开发商。

此前，香港法院已两次延期华南城清盘申请的聆讯，然而，香港法院拒绝了本案聆讯的第三次延期请求，并基于以下理由，勒令华南城即时清盘：

On 11 August 2025, the Honourable Madam Justice Linda Chan made a winding up order against China South City Holdings Ltd (the “Company”). According to Reuters, this is the first state-backed property developer to be wound up in Hong Kong since the Chinese property sector tipped into debt crisis in 2021.

Background

The Company and its group of subsidiaries (the “Group”) is a real estate developer and operates a large scale integrated logistics and trade centre in 8 major cities in the Mainland under the brand name “華南城”.

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

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

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