Virgin Australia Group administrators’ Lien: The key to super priority

Background

Filed under:
Australia, Insolvency & Restructuring, Litigation, King & Wood Mallesons, Coronavirus, Virgin Group
Authors:
John Canning , Samantha Kinsey , Cameron Mew , Philip Pan
Location:
Australia
Firm:
King & Wood Mallesons
Virgin v Wells Fargo: the Full Federal Court adopts a different interpretation of an insolvency administrator’s obligation to “give possession” under the Cape Town Convention

Following our previous alert here on Justice Middleton’s decision in Wells Fargo Trust Company, National Association (trustee) v VB Leaseco Pty Ltd (Administrators Appointed),[1] the administra

Filed under:
Australia, Insolvency & Restructuring, Litigation, King & Wood Mallesons, Virgin Group, Federal Court of Australia
Authors:
John Canning , Cameron Mew , Samantha Kinsey
Location:
Australia
Firm:
King & Wood Mallesons
Wells Fargo v Virgin: the first clarification on an insolvency administrator’s obligation to “give possession” under the Cape Town Convention

On 14 May 2015, Australia acceded to the Convention on International Interests in Mobile Equipment (“Cape Town Convention”) and the Protocol to the Cape Town Convention (“Cape Town Protocol”). In particular, for insolvency related proceedings, Australia adopted what is known as “Alternative A” in aviation industry speak. The Cape Town Convention became effective as Australian law on 1 September 2015 and applies to the relevant aviation leasing and financing transitions entered into after that date.

Filed under:
Australia, Insolvency & Restructuring, Litigation, King & Wood Mallesons, Virgin Group
Authors:
John Canning , Cameron Mew
Location:
Australia
Firm:
King & Wood Mallesons