Mondaq Australia: Insolvency/Bankruptcy/Re-structuring
Bartier Perry
The receivers or liquidators of a trustee company will now be required to pay out employee entitlements in priority.
Corrs Chambers Westgarth
Article considers recent case that confirms liquidators should approach the Court before taking steps to realise trust assets.
Worrells Solvency & Forensic Accountants
Often, the company director of a SME can be personally liable for a significant proportion of the company's liabilities.
Worrells Solvency & Forensic Accountants
The article raises awareness about legal and government initiatives to tighten the net around illegal phoenix activity.
Worrells Solvency & Forensic Accountants
The safe harbour laws provide company directors with an opportunity to explore restructuring opportunities.
Pointon Partners
Investors in a failed group of companies have recovered their lost money directly from the group's former directors.
Corrs Chambers Westgarth
Whilst it remains a high bar to remove them, liquidators must always be vigilant to ensure their independence is preserved.
Corrs Chambers Westgarth
This was an overview of the principles of a court's discretion to restrain a firm from acting against a former client.
Cooper Grace Ward
It is a defence to an unfair preference claim to show no reasonable grounds to suspect insolvency of the debtor company.
DLA Piper
The use of creditors' schemes of arrangement is on the rise in Australia (as we discussed in our previous article - Update on Creditors Schemes of Arrangement in Australia).
McCullough Robertson
The priority regime in the Corporations Act does apply to payment of trust creditors of an insolvent corporate trustee.
Worrells Solvency & Forensic Accountants
The bill aims to make the debt agreement system more accessible and to provide more protection for debtors and creditors.
Worrells Solvency & Forensic Accountants
The Bankruptcy Act 1966 provisions allow and encourage a person to continue earning an income throughout the bankruptcy.
Worrells Solvency & Forensic Accountants
Employee entitlements are given priority in an insolvency, whether the employer is a company or trading as a trustee.
Corrs Chambers Westgarth
An insolvent trading claim involved privilege against self-incrimination and liability split between successive directors.
Corrs Chambers Westgarth
An insolvency exclusion in a D&O policy did not exclude claims against directors of a company under administration.
Corrs Chambers Westgarth
Failure to properly obtain creditor approval of remuneration can have dire consequences for insolvency practitioners.
Corrs Chambers Westgarth
The voluntary administrator could claim costs of care, preservation and realisation of partnership assets of the company.
Worrells Solvency & Forensic Accountants
Article explains the rights that a bank with a GSI has over unsecured creditors.
Worrells Solvency & Forensic Accountants
Article explains that personal insolvencies continue to fall and why.
Most Popular Recent Articles
KordaMentha
The construction industry is disproportionately represented in insolvencies, so developers should be aware of the risks.
Worrells Solvency & Forensic Accountants
Despite any sale contract terms about who is responsible for the employee entitlements, the Fair Work Act rules prevail.
Worrells Solvency & Forensic Accountants
Often, the company director of a SME can be personally liable for a significant proportion of the company's liabilities.
Worrells Solvency & Forensic Accountants
The safe harbour laws provide company directors with an opportunity to explore restructuring opportunities.
Cooper Grace Ward
It is a defence to an unfair preference claim to show no reasonable grounds to suspect insolvency of the debtor company.
Worrells Solvency & Forensic Accountants
The article raises awareness about legal and government initiatives to tighten the net around illegal phoenix activity.
Pointon Partners
Investors in a failed group of companies have recovered their lost money directly from the group's former directors.
Worrells Solvency & Forensic Accountants
Article explains how fines received by the company eg. speeding fines are not recoverable in a liquidation.
Corrs Chambers Westgarth
Whilst it remains a high bar to remove them, liquidators must always be vigilant to ensure their independence is preserved.
Corrs Chambers Westgarth
This was an overview of the principles of a court's discretion to restrain a firm from acting against a former client.
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