In The Australian Sawmilling Company Pty Ltd (in liq) v Environment Protection Authority [2021] VSCA 294 (Australian Sawmilling), the Victorian Supreme Court of Appeal (VSCA) dismissed an appeal by the liquidators of The Australian Sawmilling Company Pty Ltd (TASCO) against a decision of Garde J of the Victorian Supreme Court (VSC) setting aside the liquidators’ disclaimer of land subject to significant environmental ‘clean up’ costs (Primary Judgment).

BITE SIZE KNOW HOW FROM THE ENGLISH COURTS

Maritime

Introduction

There is much to report since our last update on Voyager Digital’s bankruptcy case discussed here.

The recent decision of the High Court in Fistonich & Anor v Gibson & Ors [2022] NZHC 1422 considered whether receivers have a right to retain surplus funds to meet the cost of defending actual or forecast claims against the receivers.

Background

The case involves the sale of the business and land associated with Villa Maria winery, which was owned and operated through Villa Maria Estate Ltd and established 60 years ago by Sir George Fistonich. FFWL Ltd was the holding company of Villa Maria Estate Ltd.

The Victorian Government has passed the Local Government Legislation Amendment (Rating and Other Matters) Act 2022 (Act), making a number of amendments including a particular focus on ratepayers experiencing hardship and improving the way rates are collected.

This week’s TGIF examines a recent NSW Supreme Court decision that illustrates the circumstances in which a person will be regarded as a ‘de facto director’ and the duties owed to creditors when facing insolvency.

Key takeaways

Good afternoon. Here are our summaries of the civil decisions of the Court of Appeal for Ontario for the week of August 8, 2022.

Debt recovery can often be a tricky exercise, as debtors are adept at avoiding and/or delaying payment where there is a debt outstanding.

A cost-effective avenue for debt recovery, where the debtor is a company, is by way of a statutory demand.

In the latest issue of the Restructuring Department Bulletin, we highlight recent decisions impacting the restructuring arena, including an order in the Southern District of New York finding that U.S.