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

Federal Court confirms that leave of the Court is not required under the Bankruptcy Act to sue a former bankrupt after an annulment of bankruptcy by way of composition

2 October 2015

Hudson v Signalla [2015] FCAFC 140 confirms that leave of the court is not required under s58(3) Bankruptcy Act 1966 (Cth) to sue a former bankrupt in respect of what was a provable debt in the bankruptcy.

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ATE Insurance and security for costs – Will a deed of indemnity suffice?

25 September 2015

A recent Victorian Supreme Court decision has considered whether security for costs may be provided by way of a deed of indemnity from an After-The-Event insurer.

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Challenge to a DOCA - Position of the secured creditor key in determining prejudice to creditors as a whole

18 September 2015

This week’s TGIF considers the circumstances in which a resolution passed at a creditor’s meeting will be set aside on the basis that it is contrary to the interests of creditors as a whole.

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Not all legal advice is equal - Guarantee unenforceable due to deficiencies in legal advice

11 September 2015

This week’s TGIF considers a New South Wales decision which considered the quality of the legal advice provided to a guarantor and the enforceability of the guarantee provided by that guarantor.

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DOCAs, material omissions and the spectre of bias

4 September 2015

This week’s TGIF article considers a case in which the NSW Supreme Court provides guidance for administrators as to the law regarding material omission or misstatement in administrators’ section 439A reports.

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An imperfect approach - The need for timely registration of security interests

28 August 2015

This week’s TGIF considers a Federal Court decision regarding registration and perfection of a security interest, in circumstances where the grantor later became insolvent.

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Court considers electronic service of application to set aside a statutory demand

21 August 2015

This week’s TGIF considers a Victorian Supreme Court decision confirming that an application to set aside a statutory demand can be served electronically.

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Two appointed, three’s not a crowd

14 August 2015

This week’s TGIF considers a decision in which the court appointed an additional liquidator to conduct further investigations alongside the incumbent liquidators in a creditors’ voluntary winding up.

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DOCA extinguishes secured creditor's debt - Whether they like it or not

7 August 2015

The NSW Supreme Court has recently found that a DOCA will extinguish a secured creditor’s debt, although the secured creditor will remain able to ‘realise’ or ‘otherwise deal’ with the secured property.

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Lender responsible for unconscionable conduct of intermediaries

31 July 2015

Supreme Court of Western Australia finds loans granted by a lender through intermediaries to be unenforceable due to unconscionable conduct.

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