TGIF

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

something is better than nothing: court approval of liquidator entering litigation funding agreement

23 June 2017

This week’s TGIF considers In re City Pacific Limited in which the NSW Supreme Court considered whether to approve a liquidator entering into a litigation funding agreement under which the funder would receive a premium of at least 50% of any judgmen

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A commercial solution to a re-vesting problem

16 June 2017

This week’s TGIF considers Alleasing Pty Ltd, in the matter of OneSteel Manufacturing Pty Ltd in which the Court considered the potential prejudice to creditors in extending the time for registration of security interests

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First in time, first in line? Does the order of registration of caveats determine the priority of competing unregistered charges?

9 June 2017

This week’s TGIF considers Bunnings Group Ltd v Hanson Construction Materials Pty Ltd & Anor [2017] WASC 132, where the Court considered whether the order of registration of caveats determined the priority of competing unregistered charges.

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‘Phoenixing’ rising: corporate misuse of FEG sparks crackdown

2 June 2017

This week’s TGIF considers the recent proposals to crackdown on rogue directors and reduce the burden on FEG to pay unpaid workers.

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Scheming to protect creditors

26 May 2017

This week’s TGIF considers the case of In the matter of Boart Longyear Limited [2017] NSWSC 537 in which the NSW Supreme Court made orders to assist with the restructuring of a group of companies to the ultimate benefit of creditors

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Rethink again, when will a court adjust the liability of a co-guarantor?

19 May 2017

This week’s TGIF considers the recent decision of AMP Bank Limited v Brown and Kavanagh [2017] NSWSC 313, where the court found that unless a limited exception applies, it does not have the power to adjust the liability of a co-guarantor.

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Liquidators’ disclaimer power not fail-safe

12 May 2017

This week’s TGIF considers Linc Energy Ltd (in Liq) v Chief Executive Dept of Environment & Heritage Protection [2017] QSC 53, in which the Queensland Supreme Court directed that the liquidators of Linc Energy were not justified in causing it to fail

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Taste of bias: Court rejects assertion of lack of independence

5 May 2017

This week’s TGIF considers an objection by directors and related-party creditors to a liquidator retaining solicitors who had previously acted for a substantial creditor in proceedings against the company.

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To err is human – New South Wales Supreme Court lets financier fix 200 plus flawed PPSA registrations

28 April 2017

This week’s TGIF considers In the matter of 4 in 1 Wyoming Pty Ltd & the companies listed in Schedule A to the Originating Process [2017] NSWSC 407, where the New South Wales Supreme Court granted a financier an extension of time to register new and

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No pressure! A borrower’s financial difficulties alone will not establish duress

21 April 2017

This week’s TGIF considers Australia and New Zealand Banking Group Ltd v Bragg (No. 3) [2017] NSWSC 208, in which the Court rejected a borrower’s claims that it entered into a loan contract under duress and that the bank prevented its attempted sale

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