TGIF

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

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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Where’s Your COMI? – Recognition of Foreign Proceeding

28 October 2016

This week’s TGIF considers Wood v Astra Resources Ltd (UK Company No 07620218) [2016] FCA 1192, in which the Federal Court was asked to recognise a foreign proceeding under the Model Law on Cross Border Insolvency.

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Hand them over! Director entitled to inspect documents prepared by a receiver

21 October 2016

This week’s TGIF considers Navarac Pty Ltd v Carrello [2016] WASC 327, in which the court held that a director was entitled to inspect certain records created by a receiver during the course of the receivership.

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Not my guarantee! Trade creditor faces consequences for accepting electronic signature at face value

14 October 2016

The NSW Court of Appeal recently rejected an appeal from a decision which held that a company director was not personally liable as a guarantor in circumstances where his electronic signature had been affixed to the guarantee without his knowledge.

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Court refuses mandatory examination of liquidator

7 October 2016

This week’s TGIF considers the decision of Kimberley Diamonds Ltd, in the matter of Kimberley Diamond Company Pty Ltd (in liq) [2016] FCA 1016 in which the Court refused to allow the mandatory examination of a liquidator under s 596A

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