TGIF

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

Directions engineered: conduct justified – substantive rights not affected

14 December 2018

This week’s TGIF considers Re Broens Pty Limited (in liq) [2018] NSWSC 1747, in which a liquidator was held to be justified in making distributions to creditors in spite of several claims by employees for long service leave entitlements.

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Released or Not? Informed release required for breaches of trust

7 December 2018

This week’s TGIF considers Bullhead Pty Ltd v Brickmakers Place Pty Ltd (in liq) [2018] VSCA 316, where the Court held that a release for breach of trust was ineffective because the beneficiary was not fully informed about the breach

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You can’t rely on anyone but yourself – insolvent companies, litigation funding and security for costs

30 November 2018

This week’s TGIF considers Australian Worldwide Pty Ltd v AW Exports Pty Ltd where the Court awarded security for costs against plaintiff companies in liquidation, despite a litigation funder’s indemnity against adverse costs

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Receivers in a Nickel: directions under s 424 of the Corporations Act 2001

23 November 2018

This week’s TGIF considers a successful application for directions by receivers who wished to distribute assets where proceedings by a third party against the companies over which they were appointed.

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Application warranted: liquidator granted warrant to search for and seize property

16 November 2018

This week’s TGIF considers an application for a warrant authorising a liquidator to search for and seize property, books and records of a company in liquidation.

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Assign o’ the times: Assigning statutory causes of action

9 November 2018

This week’s TGIF considers the decision of Pentridge Village Pty Ltd (in liq) v Capital Finance Australia Ltd [2018] VSC 633, where the Supreme Court of Victoria considered whether a liquidator was able, as a matter of law, to assign statutory causes

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Perception is paramount: Administrator denied appointment as liquidator

2 November 2018

This week’s TGIF article looks at the decision of Hooke v Bux Global Ltd (No 6) [2018] FCA 1545, where Bux Global Ltd (Bux Global) was wound up on just and equitable grounds and the perceived independence of a director-appointed liquidator was questi

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Perils of a complex, corporate collapse: Administrators’ conduct justified and personal liability limited

26 October 2018

This week’s TGIF considers the decision of Currie, in the Matter of The Country Wellness Group [2018] FCA 1455, where the administrators approached the Court for orders to justify their continuation of inter- company loans and to limit any personal l

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Don’t hold me back: Injunctions restraining mortgagee sales

19 October 2018

This week’s TGIF considers the decision in Six Bruce Pty Ltd v Jadig Finance Pty Ltd [2018] VSC 552, where the Court granted an injunction to temporarily restrain a mortgagee’s sale despite the mortgagor not making any payment into Court.

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Don’t scratch the service: Court clarifies rules for service for claims commenced under the Corporations Act

12 October 2018

This week’s TGIF considers a NSW Court of Appeal judgment which denied leave to appeal from a decision which dismissed an application to set aside service of an originating process not served “as soon as practicable”.

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