TGIF

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

Tips for administrators to avoid costs orders in proceedings challenging the validity of appointment

30 September 2016

This week’s TGIF looks at the departure from the general costs rule considered in In the matter of Condor Blanco Mines Ltd (No. 2) in circumstances where the administrator was found not to have discharged the duty of essential neutrality.

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Is it the vibe? Constitutional challenges to the Court’s power to issue examination summonses.

23 September 2016

This week’s TGIF considers Clive Palmer’s recent challenges to the constitutionality of the Court’s power under the Corporations Act to issue examination summonses.

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Hopelessly insolvent – DOCA terminated in favour of public interest

16 September 2016

This week’s TGIF considers the decision of Ziziphus Pty Ltd v Pluton Resources Limited (Receivers and Managers Appointed) (Subject to Deed of Company Arrangement) where the Court favoured the public interest in terminating a DOCA

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Consequences of ‘vague encouragement’ in commercial negotiations

9 September 2016

A recent High Court decision has considered the issue of estoppel based on representations made during commercial negotiations.

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When is a judgment debt not a judgment debt?

2 September 2016

This week’s TGIF considers the case of Compton v Ramsay Health Care Australia Pty Ltd [2016] FCAFC 106, where the Court exercised its power to “go behind” a judgment upon which a petitioning creditor relied as proof of a debt that was owed.

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S440J(1) will not always protect director/guarantors where borrower is in administration

26 August 2016

This week’s TGIF considers Mizuho Bank Ltd v Ackroyd where the Court considered whether s 440J will prevent the continuation of proceedings to enforce a guarantee against a director of a company in administration

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Principal loan contract varied, but guarantors fail in seeking to avoid liability to the bank under their guarantees

19 August 2016

This week’s TGIF considers a recent case where two individuals challenged their liability under guarantees given by them in respect of monies borrowed by their family trust for property development purposes.

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A “Prime” example of a mortgagee exercising its power of sale

12 August 2016

This week’s TGIF considers CME Properties (Australia) Pty Ltd v Prime Capital Securities Pty Ltd [2016] WASC 231 which concerns a mortgagor’s application for an interim injunction to restrain a mortgagee from exercising its power of sale.

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Setting aside DOCAs and exercising the casting vote

5 August 2016

This week’s TGIF considers Britax Childcare Pty Ltd, in the matter of Infa Products Pty Ltd v Infa Products Pty Ltd (Administrators Appointed) [2016] FCA 848 which considers setting aside a DOCA and the administrator’s casting vote.

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Banks beware – a prominent written notice for the purposes of the Code of Banking Practice may not be prominent notice in the circumstances!

29 July 2016

This week’s TGIF considers the latest in a string of significant decisions on the Code of Banking Practice. The case sends a clear message to bankers: fail to comply with the Code at your peril!

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