TGIF

TGIF is a weekly publication focusing on current issues in insolvency law and banking and finance litigation.

Supreme Court of Victoria dismissed application to set aside statutory demand on basis of spurious and hypothetical dispute

22 July 2016

This week’s TGIF considers Brandon Industries (Vic) Pty Ltd v Locker Pty Ltd where the Court dismissed an application to set aside a statutory demand due to the applicant’s failure to establish a genuine dispute or offsetting claim.

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Australian Corporations Act not beholden to Chapter 11

15 July 2016

This week’s TGIF considers Legend International Holdings Inc (In Liquidation) v Indian Farmers Fertiliser Cooperative Ltd & Kisan International Trading FZE [2016] VSCA 151 in which it was held that s 581 does not prohibit a winding up order where Ch

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Breaches of the Code of Banking Practice result in a challenge to the enforcement of a guarantee

8 July 2016

This week’s TGIF considers the most recent decision in a line of cases which hold that the provisions of the Code of Banking Practice may be incorporated into loan agreements, as well as guarantees given by individuals.

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‘Not so onerous!’ – NSW Supreme Court declares purported disclaimer of contract null and void.

1 July 2016

This week’s TGIF considers In the matter of Blue Sennar Air Pty Ltd (in liq); In the matter of Eye Plantain Pty Ltd (in liq) [2016] NSWSC 772.

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A vexed case - Court reigns in vexatious litigant to protect Bank

24 June 2016

This week’s TGIF considers the Federal Court decision of National Australia Bank Ltd v Garrett [2016] FCA 714 in which the Court stepped in to invalidate and restrain an improper registration on the PPSR

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Guarantors must ‘pay now, sue later’

17 June 2016

This week’s TGIF considers Palaniappan v Westpac Banking Corporation [2016] WASCA 72 in which the Court clarified the scope of ‘suspension clauses’ in guarantee agreements.

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‘What a Legend’ – Court rejects recognition of foreign proceeding and orders wind up in the face of Chapter 11 bankruptcy

10 June 2016

This week’s TGIF considers In the matter of Legend International Holdings Inc [2016] VSC 308 in which the Court declined to recognise a US Chapter 11 bankruptcy proceeding and made orders that the company be wound up.

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Consequences of bringing a deed of company arrangement to a premature end

3 June 2016

This week’s TGIF considers the decision of Deputy Commissioner of Taxation v BE100 Property Investments Pty Ltd [2016] FCA 597 where the court found that a deed administrator acted unreasonably by attempting to terminate a deed of company arrangement

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Federal Court finds that a retention of title clause is to be considered a “security”, defeating the liquidators’ unfair preference claim

27 May 2016

This week’s TGIF considers the decision in Hussain v CSR Building Products Limited, in the matter of FPJ Group Pty Ltd (In Liq), in which an ROT clause was held to be a “security”, defeating the liquidators’ unfair preference claim.

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A sign for unfunded liquidators: what you need to know about assigning a cause of action

20 May 2016

This week’s TGIF examines the NSW Supreme Court decision In the Matter of Kevin Jacobsen Pty Limited (in liq) [2016] NSWSC 538 which considered a challenge to an application under s 477(2B) to assign a cause of action.

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