TGIF

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

Don’t scratch the service: Court clarifies rules for service for claims commenced under the Corporations Act

12 October 2018

This week’s TGIF considers a NSW Court of Appeal judgment which denied leave to appeal from a decision which dismissed an application to set aside service of an originating process not served “as soon as practicable”.

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Piercing the corporate veil in winding-up applications: Court orders non-party director to pay indemnity costs

5 October 2018

This week’s TGIF considers the recent case of Vanguard v Modena [2018] FCA 1461, where the Court ordered a non-party director to pay indemnity costs due to his conduct in opposing winding-up proceedings against his company.

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Set-Off Rights Restored – WACA Overturns Forge

28 September 2018

The WA Court of Appeal has overturned Forge v Hamersley Iron, determining that mutuality under section 553C of the Corporations Act between an insolvent company and its creditors is not destroyed by the granting of a general security interest to the

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Call of Duty: can lawyers owe a duty of care to a company in liquidation when instructed by its shareholder?

21 September 2018

This week’s TGIF considers the decision in Mujkic Family Company Pty Ltd v Clarke & Gee Pty Ltd [2018] TASFC 4, which concerns a rather novel issue – whether a solicitor acting for a shareholder might also owe a duty of care to the company in liquida

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Examinee (still) on the Run — Clarifying how liquidators can apply for arrest warrants to require directors to appear

14 September 2018

This week’s TGIF considers the decision of Mensink v Parbery [2018] FCAFC 101, in which the former director of Queensland Nickel appealed against the issue of arrest warrants requiring him to attend court for an examination and to answer contempt cha

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Don’t believe everything you read – company’s books not prima facie proof of debt

7 September 2018

This week’s TGIF considers In the matter of ACN 096 281 542 Limited (in Liquidation) (ACN 096 281 542) (formerly Biotempus Limited) [2018] VSC 425, in which the Victorian Supreme Court dismissed a party’s appeal from a liquidators’ rejection of a pro

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Going South(ern): Summary enforcement of loans after Great Southern

31 August 2018

This week’s TGIF considers an increasingly common issue – how to conduct enforcement proceedings where a borrower’s loan is part of concluded group proceedings like those in Great Southern and Timbercorp.

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Public examinations during liquidation: which documents can liquidators obtain?

24 August 2018

How far do liquidators’ powers to demand documents for public examinations extend? In this week’s TGIF, we consider these questions in the context of the recent case of Re Cathro.

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Restoring trust – request to reinstate granted

17 August 2018

This week’s TGIF considers Brislane v ASIC, in the matter of Chiswick Universal Pty Ltd (in liq) [2018] FCA 1095, where the Court ordered that a deregistered company be reinstated to recover a valuable interest vested in the Commonwealth.

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Stitched up by a subpoena side-step – methods for obtaining transcripts of ASIC examinations

10 August 2018

This week’s TGIF considers the case of TW McConnell Pty Ltd v SurfStitch Group Ltd (administrators appointed) (No 2) [2018] NSWSC 1149 and the different methods by which transcripts of examinations carried out by ASIC may be obtained, as well as like

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