TGIF

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

Bank fees and penalties - Some guidance from the Federal Court

7 February 2014

On 5 February 2014, in Paciocco v Australia and New Zealand Banking Group Limited [2014] FCA 35, the Federal Court of Australia determined that credit card late fees charged by a bank were penalties.

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Restraining the sale of land by receivers - When will courts grant an injunction?

31 January 2014

This week’s TGIF considers the case of Bosi Security Services Ltd v Wright [2013] WASC 431, in which the court granted an interlocutory injunction preventing the sale of land by receivers.

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Waive your privilege goodbye: The consequences of not claiming privilege during a public examination

13 December 2013

This week’s TGIF considers the Victorian Supreme Court decision of Le Roi Homestyle Cookies Pty Ltd (in liquidation) v Gemmell [2013] VSC 452.

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High Court upholds Victorian Court of Appeal’s Willmott decision on disclaimer by Liquidators

6 December 2013

This week’s TGIF considers the recent High Court decision in the Willmott liquidation which confirms that liquidators of landlord companies have the power to disclaim leases and extinguish any proprietary rights the tenant may have.

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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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