TGIF

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

Court approval of Bell settlement

29 November 2013

This week’s TGIF considers the approval decision for the settlement of the long running Bell Group litigation.

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When the exercise of a casting vote can breach a liquidator’s fiduciary duty

22 November 2013

This week’s TGIF considers the fiduciary duties of a liquidator and circumstances where they should refrain from exercising a casting vote at creditors’ meetings.

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Lowering the bar to set aside statutory demands - Is merely alleging a “genuine dispute” now enough?

15 November 2013

This week’s TGIF looks at a recent decision of the NSW Court of Appeal, in which the Court considered the evidence required to set aside a statutory demand on the basis of an offsetting claim.

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Examinations by foreign representatives in cross border insolvency

8 November 2013

This week’s TGIF considers the powers of examination available to foreign liquidators recognised as foreign representatives under the Cross Border Insolvency Act 2008 (Cth).

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Too little, too late: When can the court extend the time for compliance with a creditor’s statutory demand

1 November 2013

This week’s TGIF considers a recent decision on an application to extend the time for compliance with a statutory demand where a previous application to set aside the statutory demand had been dismissed and the time for compliance had expired.

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Section 560 of the Corporations Act: When a loan is not a loan

25 October 2013

This week’s TGIF considers a recent New South Wales Supreme Court decision regarding subrogation of rights under section 560 of the Corporations Act and in equity.

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Lehman Brothers - Schemes of arrangement offer a viable compromise

18 October 2013

This week’s TGIF considers the Federal Court decision that approved the scheme of arrangement proposal that was adopted at a meeting of creditors of Lehman Brothers held yesterday.

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Why full disclosure is required in Personal Insolvency Agreements

11 October 2013

This week’s TGIF considers an application to set aside a personal insolvency agreement in circumstances where the debtor had been less than transparent about the state of her affairs.

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Priority payment to creditors of insurance proceeds obtained during a liquidation is subject to a liquidator’s remuneration for obtaining those proceeds

4 October 2013

This week’s TGIF considers a recent Federal Court decision confirming that a liquidator is entitled to his or her remuneration before making a priority distribution to third parties from the proceeds of insurance.

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Commercial decisions of liquidators - When will the Court interfere?

27 September 2013

This week’s TGIF considers two recent cases confirming that the Court will not interfere with commercial decisions made by liquidators unless extraordinary circumstances exist.

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