Liquidators’ perils in jumping the gun ….

A liquidator has been ordered to personally pay the legal costs of a creditor in a liquidation because he jumped the gun in assuming the creditor was not lodging a proof of debt and went on to finalise the liquidation.  The creditor had to apply to the court for resolution of its proof of debt, and then again […]

Our insolvency law reform – will it all end in tears?

While Australia has been debating for too long what law we should have to assist in the recovery of distressed businesses, both the UK and Europe are considering more advanced reforms consistent with a stated policy of encouraging, by law or otherwise, better corporate restructuring outcomes. A failing business that simply collapses into  liquidation and winding up invariably loses much […]