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

Unlimited – liquidators’ enlarged claim permissible following expiration of limitation period

16 December 2016

This week’s TGIF considers a NSW Court of Appeal decision which confirms that liquidators who bring a claim for preference payments within the limitation period may amend that claim to capture additional transactions otherwise subject to a statutory

Read More

To stay or not to stay? Stay and suspension of enforcement proceedings in cross border insolvencies

9 December 2016

This week’s TGIF considers Tai-Soo Suk v Hanjin Shopping Co Ltd [2016] FCA 1404 in which the Court was required to determine the scope of a stay arising under the UNCITRAL Model Law on Cross Border Insolvency

Read More

Careless use of the power to sell has consequences, guaranteed!

2 December 2016

This week’s TGIF considers a recent decision in the Victorian Supreme Court in which a Guarantor was released from liability as a consequence of the Lender’s inappropriate conduct in realising the security.

Read More

Don’t be too Hastie – the Importance of Claiming Privilege with Precision

25 November 2016

This week’s TGIF considers the recent decision of Hastie Group Ltd (in liq) v Moore [2016] NSWCA 305 in which the Court held that privilege attached to an expert report prepared for the purpose of obtaining litigation funding

Read More

Liquidators welcome insurers to the party…again

18 November 2016

This week’s TGIF considers Re Akron Roads Pty Ltd (in liq) (No 3) in which the Court held that the liquidators had standing to seek a declaration against an insurer arising from the assignment of rights under a policy

Read More

Am I too special? Appointment of special purpose liquidators where firm involved in previous compliance audit

11 November 2016

In State of Victoria v Goulburn Administration Services (In Liquidation) and Ors [2016] VSC 654, Special Purpose Liquidators were appointed despite a potential conflict arising from their firm having conducted compliance audits.

Read More

Trust Me: Liquidators Justified Using Trust Funds To Investigate Potential Claims Available To Trustee

4 November 2016

This week’s TGIF considers a recent decision in which the Court directed that liquidators would be justified in utilising trust funds to conduct further investigations to identify and pursue potential claims available to a trustee.

Read More

Where’s Your COMI? – Recognition of Foreign Proceeding

28 October 2016

This week’s TGIF considers Wood v Astra Resources Ltd (UK Company No 07620218) [2016] FCA 1192, in which the Federal Court was asked to recognise a foreign proceeding under the Model Law on Cross Border Insolvency.

Read More

Hand them over! Director entitled to inspect documents prepared by a receiver

21 October 2016

This week’s TGIF considers Navarac Pty Ltd v Carrello [2016] WASC 327, in which the court held that a director was entitled to inspect certain records created by a receiver during the course of the receivership.

Read More

Not my guarantee! Trade creditor faces consequences for accepting electronic signature at face value

14 October 2016

The NSW Court of Appeal recently rejected an appeal from a decision which held that a company director was not personally liable as a guarantor in circumstances where his electronic signature had been affixed to the guarantee without his knowledge.

Read More