This week’s TGIF considers the decision of Crowe-Maxwell v Frost [2016] NSWCA 46 in which the Court held that a liquidator did not discharge his onus of proving relevant transactions were unreasonable director-related transactions.

BACKGROUND

The recent Supreme Court of New South Wales decision of In the matter of Octaviar Administration Pty Limited (in liquidation) [2013] NSWSC 786 confirms that liquidators must notify all interested parties prior to seeking an extension for the period in which to bring preference actions.  For the first time, the Court has confirmed that the directors of the insolvent company are “interested persons” in cases where a liquidator intends to pursue the Australian Taxation Office (ATO) over potential preferential payments based solely on the potential for the ATO to

This week’s TGIF considers the recent decision of In the matter of PIC Lindfield 19 Pty Ltd (in liq)[2022] NSWSC 271, in which former directors of the company in liquidation failed to set aside summonses for public examination on the basis of alleged non-disclosure by the liquidators.

Key Takeaways

This week’s TGIF considers a recent insolvent trading claim involving novel questions in relation to privilege against self-incrimination and the apportionment of liability between successive directors.

Background

BACKGROUND

The statutory order of priority as it relates to a superannuation guarantee charge liability was considered in the New South Wales Supreme Court proceeding In the matter of Independent Contractor Services (Aust) Pty Limited ACN 119 186 971 (in liquidation) (No 2)[2016] NSWSC 106.

The recent New South Wales Supreme Court (Court) decision in Plaza West Pty Ltd (in liquidation) (subject to a deed of company arrangement) [2013] NSWSC 168 involved an application to terminate the winding up of a company subject to a deed of company arrangement (DOCA) and emphasised the importance of comprehensive reports from the company’s administrators and experts, in deciding that application.

Background

This week’s TGIF examines the decision of the Supreme Court of New South Wales in In the matter of Jana Pty Ltd [2022] NSWSC 112, considering whether a ‘genuine dispute’ exists  in relation to a debt claimed in a statutory demand where the debt arises from a poorly drafted deed.

Key Takeaways

This week’s TGIF examines a recent decision of the New South Wales Court of Appeal in Hosking v Extend N Build Pty Limited [2018] NSWCA 149, which considered whether payments made by a third party to an insolvent company’s creditors could be recovered by the liquidator as unfair preferences.

What happened?

This week’s TGIF considers the recent NSW Supreme Court decision of Westpac Bank v Raflick Sayah [2015] NSWC 1167, provides comfort to banks and their receivers in that it validated the actions of a Receiver who had obtained expert advice on a sale process and had undertaken a thorough process.

THE FACTS

This week’s TGIF considers Re C88 Project Pty Ltd [2022] NSWSC 126, a New South Wales Supreme Court case which provides guidance on the effect of omitting prescribed information, and including claims for disputed judgment interest, on the validity a statutory demand.

Key Takeaways