TGIF

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

The case of the Brexit Ponzi scheme – no distribution of remaining funds to investors struck by common misfortune

20 April 2018

This week’s TGIF article considers the case of In the matter of Courtenay House Capital Trading Group Pty Limited (in liq) v Courtenay House Pty Limited (in liq) [2018] NSWSC 404, in which investors in a Ponzi scheme unsuccessfully sought to have the

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“Can’t get no double satisfaction”: Guarantor seeks to rely on rule against double satisfaction to reduce liability to creditor

13 April 2018

This week’s TGIF considers James v Australia and New Zealand Banking Group Ltd [2018] NSWCA 41 in which a guarantor unsuccessfully sought to rely on the rule against double satisfaction to reduce his liability to a creditor.

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Left in the dark – Seeking to appoint a voluntary administrator when Board relations crumble

6 April 2018

This week’s TGIF considers the case of In the matter of Bean and Sprout Pty Ltd [2018] NSWSC 351, an application seeking a declaration as to the validity of the appointment of a voluntary administrator.

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Re Run of Re Amerind – Part 2: Circulating Security Interests and Circulating Assets

23 March 2018

This week’s TGIF is the second part of our two-part series considering Commonwealth v Byrnes [2018] VSCA 41, the Victorian Court of Appeal’s decision on appeal from last year’s Re Amerind decision about the insolvency of corporate trustees.

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Re Run of Re Amerind – Part 1: The Insolvent Corporate Trustee’s Right of Indemnity

16 March 2018

This week’s TGIF is the first of a two-part series considering Commonwealth v Byrnes [2018] VSCA 41, the Victorian Court of Appeal’s decision on appeal from last year’s Re Amerind decision about the insolvency of corporate trustees.

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Payslip alone, not enough on its own: reasonable steps in income verification for consumer credit contracts

9 March 2018

This week’s TGIF considers the case of Australian Securities and Investments Commission v Australia and New Zealand Banking Group Limited [2018] FCA 155 which concerned contraventions of consumer credit legislation as result of verifying income on pa

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Administrator wipeout! Claimants stoked as Court dumps nominal value for class action claims

2 March 2018

This week’s TGIF considers In the matter of SurfStitch Group Limited [2018] NSWSC 164, where the Court refused to allow administrators to value claims of class action group members at a nominal $1 for voting at the second creditors’ meeting

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The party continues – Insurers remain joined to insolvent trading proceeding

23 February 2018

This week’s TGIF considers the Victorian Court of Appeal’s decision in Blakeley v CGU Insurance Ltd [2017] VSCA 378, which confirms the rights of third parties to seek direct access to proceeds of insurance.

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Out of step but not out of pocket: remuneration still recoverable for work done by invalidly appointed administrators and liquidators

16 February 2018

This week’s TGIF examines an application for approval of voluntary administrators’ and liquidators’ remuneration in circumstances where the appointments were subsequently found to be invalid.

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Upset by the offset – and other statutory demand traps

9 February 2018

This week’s TGIF considers the decision of In the matter of Trico Constructions Pty Limited [2017] NSWSC 1831 and the broader question of when creditors should – and should not – issue statutory demands.

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