This commentary need not distract us from the important issue being heard by the High Court on Tuesday 10 October 2017, as to the eligibility of certain members of parliament to remain in office. But it is interesting to look at the other restrictions under our Constitution – treason, understandably, but also bankruptcy. The impending […]
When a person inadvertently exercises powers without legal authority, a prompt legal response is required. The consequences can be serious, as two company liquidators, and more so ASIC itself, recently found out. The two liquidators join a long list of fellow bankruptcy trustees who have also inadvertently not renewed themselves. Liquidators’ registrations expiring Two liquidators inadvertently […]
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Regulators seeking penalties against companies in liquidation often reveal, as I have recently commented, some serious signs of frustration that their quarry has escaped their claims by going into liquidation, leading to the regulators, as I have also written, “kicking the company when it is down”. Justice John Logan saw it this way in Commissioner […]
Last Week’s Linc Energy decision out of Queensland – Linc Energy Ltd (in Liq)  QSC 053 – could be seen as merely an arcane constitutional outcome arising from distant Commonwealth-State negotiations leading to a finding that a state environmental law prevailed over settled principles of insolvency law under the Corporations Act. Liquidators should take their […]