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

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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Tax-avoiding employees barred from proving their debts in employer’s liquidation

24 July 2015

The Federal Court has found that employees who were remunerated under arrangements designed to avoid income tax may not prove for their entitlements in the liquidation of their former employer.

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Priority creditors - To pay or not to pay?

17 July 2015

This week’s TGIF considers whether trading profits made by receivers post-appointment must be paid to priority creditors.

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Court sets aside bankruptcy composition passed and accepted by creditors

10 July 2015

ANZ v Shilton & Liddell [2015] FCCA 1783 confirms the court’s overriding discretion to set aside a composition passed at a meeting of creditors pursuant to sections 222 and 76B of the Bankruptcy Act 1966.

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Court approves additional remuneration for liquidator

3 July 2015

NSW Supreme Court provides directions under section 511 of the Corporations Act for increasing a liquidator’s agreed remuneration.

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