TGIF

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

Further guidance from the Court as to the appropriateness of asset-based lending

13 October 2017

This week’s TGIF considers Bank of Queensland Limited v Banjanin & Ors [2017] QSC 209, where the Court considered a challenge to asset-based loans.

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It (might be) alive! – ASIC v Diploma (No 5)

6 October 2017

This TGIF examines the determination of an application by liquidators of the Diploma Group of companies to be appointed as administrators of Diploma company and put a DOCA proposal to creditors.

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Signed on the dotted line? Proving execution of personal guarantees

29 September 2017

This week’s TGIF considers Singh v De Castro [2017] NSWCA 241, where the New South Wales Court of Appeal held that five directors of an insolvent corporate borrower had executed and were bound by personal guarantees.

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Channel Ten: Administrators Vindicated

22 September 2017

This week’s TGIF considers whether, in a voluntary administration, a report to creditors constituted sufficient disclosure and whether the proponent of a DOCA should be allowed to vote as a creditor in favour of that DOCA.

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Ding Dong the Summons is Dead

15 September 2017

This week’s TGIF considers the effect of material non-disclosures and breach of parliamentary privilege on the setting aside of examination summonses issued under ss 596B and 597 of the Corporations Act 2001 (Cth).

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Turns on the terms – when does a creditor suffer loss because of a company’s insolvency?

8 September 2017

This week’s TGIF considers whether a flexible payment arrangement between a subsidiary and its holding company creditor meant the parent suffered no loss on the insolvency of the subsidiary.

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Receivers can’t perfect security interest

1 September 2017

This week’s TGIF considers the decision of Knauf Plasterboard Pty Ltd v Plasterboard West Pty Ltd (In Liquidation) (Receivers and Managers Appointed) [2017] FCA 866 in which the Federal Court considered whether a security interest could be perfected

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Creditors’ rights under a DOCA – are claims to future rents extinguished?

25 August 2017

The NSW Supreme Court has given a Landlord leave to commence proceedings against a company for rent and make good costs arising after the date of the DOCA.

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Holding DOCAs hold firm

18 August 2017

This week’s TGIF considers the decision of Mighty River International Ltd v Hughes, in which the WA Court of Appeal held that a ‘Holding DOCA’ was valid. The decision provides comfort to insolvency practitioners who use ‘Holding DOCAs’

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Security for costs and property of the company – what’s available in the winding up?

11 August 2017

This week’s TGIF considers the decision of EH 2015 Pty Ltd (in liq) v Caratti (No 3) [2017] WASC 210 which concerned the rights of a liquidator to funds paid into court as security by a company which subsequently became insolvent.

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