Mondaq Australia: Insolvency/Bankruptcy/Re-structuring
Madgwicks
Discussion of the defences that are available for voidable unfair preference payments under the Corporations Act 2001.
Worrells Solvency & Forensic Accountants
The director was disqualified from managing corporations for three years, after his involvement in 18 failed companies.
Worrells Solvency & Forensic Accountants
For repayment plans, ensure that you maintain current contact information and payment records to avoid overpayments.
Worrells Solvency & Forensic Accountants
The Phoenix Hotline is where people can report suspected phoenix behaviour to the ATO, so it can pursue wrongdoers.
Corrs Chambers Westgarth
Two essential elements must be satisfied when payments by a third party are sought to be impugned as unfair preferences.
Norton Rose Fulbright Australia
The law reforms hope to develop a culture of restructuring and encourage investment in a company in financial distress.
Pointon Partners
If there are competing applications for substitution, the Court has discretion to decide which application is successful.
Corrs Chambers Westgarth
The WA Court approved the remuneration, but deferred any decisions about trust distributions until after the High Court.
Holding Redlich
The aim of the new regime is to preserve the enterprise value of a business undertaking a formal restructure process.
BRI Ferrier
Management should prepare now for an increase in debt costs to avoid any negative impact on their business operations.
Davies Collison Cave
The Australian Federal Government's controversial ipso facto stay regime took effect on 1 July 2018.
Worrells Solvency & Forensic Accountants
Statistics show an ongoing trend of steady overall growth in personal insolvencies in Australia since June 2015.
Corrs Chambers Westgarth
Insolvency practitioners should be aware that creditors may also request access to documents produced for an examination.
Worrells Solvency & Forensic Accountants
The PPSA may have succeeded in creating more uncertainty and difficulty than ever existed prior to its introduction.
Worrells Solvency & Forensic Accountants
Property purchased by a life insurance policy is protected, if the purchase is made after the date of bankruptcy.
Worrells Solvency & Forensic Accountants
Using credit repair and debt management firms may mean consumers pay high fees and not get the solution they're seeking.
Corrs Chambers Westgarth
A range of contract rights have been excluded by declaration from the stay on the exercise of "ipso facto" provisions.
Norton Rose Fulbright Australia
Contracts should be checked without delay to maximise protection (to the extent possible) from these significant changes.
McCullough Robertson
Contracts may need to be amended to ensure that a party has appropriately protected its commercial interest.
Corrs Chambers Westgarth
However, a holding DOCA will not automatically be considered valid and each DOCA will be assessed on its own merits.
Most Popular Recent Articles
Worrells Solvency & Forensic Accountants
Section 588FDA of the Corporations Act provided that it was voidable as an unreasonable director-related transaction.
ClarkeKann Lawyers
PBAs are trust accounts, intended to protect down the line subcontractors from the insolvency of up the line contractors.
Worrells Solvency & Forensic Accountants
Using credit repair and debt management firms may mean consumers pay high fees and not get the solution they're seeking.
Worrells Solvency & Forensic Accountants
This article examines challenges to the entitlement of creditors in bankrupt estates to vote at meetings of creditors.
Stacks Law Firm
Creditor sues for money received by bankrupt from his late mother's superannuation fund.
Worrells Solvency & Forensic Accountants
The judge provided guidance on some key principles around a bankrupt trustee's right of indemnity out of trust assets.
Worrells Solvency & Forensic Accountants
A company director who receives a statutory demand for payment from a creditor must act appropriately within 21 days.
Worrells Solvency & Forensic Accountants
AFSA has recently released annual statistics, trends and also data about personal insolvency causes for the 2016-17 year.
Norton Rose Fulbright Australia
Contracts should be checked without delay to maximise protection (to the extent possible) from these significant changes.
Dentons
On Friday, 13 July 2018 the New South Wales Court of Appeal delivered its decision in Hosking v Extend N Build Pty Ltd1 (Hosking).
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