Case and statute law
Winding up Forum Finance
In ordering that liquidators be appointed to Forum Finance Pty Ltd on 9 July 2021, the Federal Court explained the …
Insolvency practitioner charge-out rates – the cost of carrying the State
In making a winding up order against Forum Finance,[1] Justice Michael Lee made this comment about the hourly fees of …
Employees’ redundancy rights on the insolvency of their employer
There are now a number of decisions from the Administrative Appeals Tribunal reviewing decisions of the Fair Entitlements Guarantee where …
Cross-border insolvency protection of a ship on its way to Australia
An Italian shipping company – Michele Bottiglieri Armatore SpA – which is subject to Italian restructuring protection, a concordato preventivo …
The insolvency rule in ex parte James – another in a series of cases ‘dancing on pinheads’
A trustee in bankruptcy in England rejected a £5.7m proof of debt lodged by the revenue authority [HMRC][1] on what …
Regulatory penalties
Sanctions imposed by courts for breaches of competition or regulatory laws have to tread a line between being so severe …
Australian High Court – special leave sought in bankruptcy Ponzi case – 139ZQ
An application for special leave to appeal to the High Court[1] has been made in a bankruptcy matter involving a …
Trustee “entirely blameless” in his dealings with a mentally infirm bankrupt
While there is now greater training available in dealing with those suffering mental illness for professionals working in debt counselling …
Why do we have preference recoveries in insolvency?
In finding that the ‘peak indebtedness rule’ did not in fact exist, the Full Federal Court[1] in Badenoch v Bryant …
DOCAs – should ‘not much of a return to creditors but better than the liquidation alternative’ be enough?
The WA Supreme Court has dismissed a challenge to deeds of company arrangement (DOCAs) that offered ‘not much of a …
Insolvent trading convictions set aside on mental health grounds
Following convictions and imprisonment for insolvent trading arising from the 2009 collapse of Kleenmaid, its founder, Andrew Young, has succeeded …
Licensing of insolvency practitioners – decision making principles from New Zealand [updated post 13 June 2021]
Mr Damien Grant, the New Zealand insolvency practitioner who successfully challenged RITANZ’s decision to deny him the right to practice …
Employees’ loss of FEG redundancy payments through their misguided “acts of decency and loyalty” to assist
The AAT has described its decision confirming a lack of government assistance under fair entitlements guarantee (FEG) for “two dedicated, …
Costs against ASIC in its [“illegal phoenix activity”] claim against a liquidator
ASIC has been unsuccessful in resisting a costs order against it in its “illegal phoenix activity” proceedings against a liquidator …
Peak indebtedness and other insolvency law views from New Zealand
The decision of the Full Federal Court in Badenoch Integrated Logging v Bryant[1] agreeing with New Zealand’s view about the …
World Bank insolvency principles – how does Australia compare?
The World Bank has released its updated Principles for Effective Insolvency and Creditor/Debtor Regimes (the Principles), emphasising the needs of …
Penalties and bankruptcy
A person in breach of consumer protection laws concerning the hire of 4 wheel drive vehicles has been ordered to …
Litigation representatives and bankruptcy
A daughter’s evidence that her mother’s litigation and bankruptcy proceedings had become her mother’s “entire life” with her house “full …
Virgin Airlines – special leave to appeal granted by the Australian High Court on a matter of the interpretation of the Cape Town Convention
Further to my report of 4 April 2021 below, the High Court of Australia has granted special leave to appeal …
Neither a borrower nor a lender be – at least to a friend or a relative …
A guarantee given by a mother to a friend of her son for the son’s business debts ended up in …
Appeals from sequestration orders made by registrars – continued
An appeal from a sequestration order made by a registrar in 2016 is being heard, in 2021. In bankruptcy litigation …
Review of the English Insolvency Rules 2016
The 2016 insolvency rules of England and Wales are being reviewed, in accord with a statutory requirement to do so …
Double suspension as a liquidator and as a trustee
An experienced Australian insolvency practitioner (IP) has had his right to practise as a liquidator suspended by a Court for …
The directors of Kids Company – “actions of public bodies do not have the effect of dissuading able and experienced individuals from becoming or remaining charity trustees”
A significant English High Court decision has been given refusing to make banning orders against trustees (directors), and the CEO, …
