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    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
    Alert for creditors: Arbitration agreements may block Hong Kong winding-up
    2025-09-08

    1. The CMS Law-Now article “Arbitration agreement does not prevent winding up petition” updated the position in England & Wales following the Privy Council decision in Sian Participation Corporation (In Liquidation) v Halimeda International Ltd [2024] UKPC 16 (“Sian”).

    Filed under:
    Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, CMS law.tax.future
    Authors:
    Steven Wise , Andrew Horton , Grace Ip , Kenneth Chan
    Location:
    Hong Kong
    Firm:
    CMS law.tax.future
    Former A.C. Milan Owner ordered Bankrupt by Hong Kong Court of First Instance in Re: Li Yonghong [2025] HKCFI 3307
    2025-08-01

    In the recent high-profile decision of Re: Li Yonghong[2025] HKCFI 3307, the Honourable Madam Justice Linda Chan made a bankruptcy order against Mr. Li Yonghong — a businessman best known for his prior ownership of AC Milan. The judgment offers important takeaways for bankruptcy and insolvency practitioners on, inter alia, the resolution of inaccuracies or defects in statutory demands and petitions.

    Background

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Des Voeux Chambers, Bankruptcy
    Authors:
    Alexander Tang , Joshua Yeung
    Location:
    Hong Kong
    Firm:
    Des Voeux Chambers
    Examining the Effectiveness of Keepwell Agreements in Cross-Border Financing: Insights from the Latest Judgment of the Hong Kong Court of Final Appeal
    2025-06-30

    Introduction

    Filed under:
    China, Hong Kong, Banking, Insolvency & Restructuring, Litigation, Beijing Jincheng Tongda & Neal, Court of Final Appeal (Hong Kong), Financial services
    Authors:
    Yang Hua
    Location:
    China, Hong Kong
    Firm:
    Beijing Jincheng Tongda & Neal
    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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