TGIF

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

A liquidator’s equitable lien: because justice requires it

24 February 2017

A recent Court of Appeal decision has affirmed that liquidators may claim an equitable lien to recover their costs and expenses, even if no assets are realised and no fund exists.

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Liquidators vindicated in refusing to conduct public examinations using a creditor’s law firm

17 February 2017

This week’s TGIF considers In the matter of ACN 151 726 224 Pty Ltd (in liq) [2016] NSWSC 1801, where the Court dismissed a creditor’s application to remove liquidators who had refused to conduct public examinations of a director.

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Making an example of wrongdoing: penalty orders against ASX listed company and its director

10 February 2017

This week’s TGIF considers a decision in which ASIC sought significant penalty orders against a listed public company and its director for misleading and deceptive statements in a prospectus, non-disclosure to the ASX and breach of directors duties

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Unlimited – liquidators’ enlarged claim permissible following expiration of limitation period

16 December 2016

This week’s TGIF considers a NSW Court of Appeal decision which confirms that liquidators who bring a claim for preference payments within the limitation period may amend that claim to capture additional transactions otherwise subject to a statutory

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To stay or not to stay? Stay and suspension of enforcement proceedings in cross border insolvencies

9 December 2016

This week’s TGIF considers Tai-Soo Suk v Hanjin Shopping Co Ltd [2016] FCA 1404 in which the Court was required to determine the scope of a stay arising under the UNCITRAL Model Law on Cross Border Insolvency

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Careless use of the power to sell has consequences, guaranteed!

2 December 2016

This week’s TGIF considers a recent decision in the Victorian Supreme Court in which a Guarantor was released from liability as a consequence of the Lender’s inappropriate conduct in realising the security.

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Don’t be too Hastie – the Importance of Claiming Privilege with Precision

25 November 2016

This week’s TGIF considers the recent decision of Hastie Group Ltd (in liq) v Moore [2016] NSWCA 305 in which the Court held that privilege attached to an expert report prepared for the purpose of obtaining litigation funding

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Liquidators welcome insurers to the party…again

18 November 2016

This week’s TGIF considers Re Akron Roads Pty Ltd (in liq) (No 3) in which the Court held that the liquidators had standing to seek a declaration against an insurer arising from the assignment of rights under a policy

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Am I too special? Appointment of special purpose liquidators where firm involved in previous compliance audit

11 November 2016

In State of Victoria v Goulburn Administration Services (In Liquidation) and Ors [2016] VSC 654, Special Purpose Liquidators were appointed despite a potential conflict arising from their firm having conducted compliance audits.

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Trust Me: Liquidators Justified Using Trust Funds To Investigate Potential Claims Available To Trustee

4 November 2016

This week’s TGIF considers a recent decision in which the Court directed that liquidators would be justified in utilising trust funds to conduct further investigations to identify and pursue potential claims available to a trustee.

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