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Corrs Chambers Westgarth | Australia | 29 Oct 2021

TGIF 29 October 2021 - Changing hats: receiver becomes liquidator despite shareholder challenge

This week’s TGIF considers In the matter of Austral Alloys Pty Ltd [2021] NSWSC 1242, a New South Wales Supreme Court decision that focused on the…
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Corrs Chambers Westgarth | Australia | 22 Oct 2021

TGIF 22 October 2021 - Submitted for your approval: Entry into post-liquidation agreements

This week’s TGIF considers a recent decision of the Federal Court of Australia in Re Aviation 3030 Pty Ltd (in liq) [2021] FCA 1244 on section…
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Walkers | United Kingdom | 12 Oct 2021

Skye Assets Fund SPC - Pressing The Pause Button On A Voluntary Liquidation

Where a shareholder has redeemed his shareholding following a failed investment without objection some months prior to the initiation of a voluntary…
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Corrs Chambers Westgarth | Australia | 8 Oct 2021

Liquidating a former trustee: what to do when there is no power to sell the assets

This week’s TGIF looks at In the matter of Gary John Anderson in his capacity as liquidator of G & G Contractors Pty Ltd (In Liquidation) [2021] FCA…
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Corrs Chambers Westgarth | Australia | 1 Oct 2021

Quit horsing around: leave to proceed against court-appointed liquidator denied

This week’s TGIF considers a decision of the Supreme Court of New South Wales on whether leave should be granted for proceedings against a…
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Gadens | Australia | 30 Sep 2021

Liquidators beware: pitfalls in admitting proofs of debt

The Federal Court’s decision in Tuscan Capital Partners Pty Ltd v Trading Australia Pty Ltd (in liq)[1] concerns an interlocutory application made by…
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Ogier | Cayman Islands | 23 Sep 2021

Grand Court confirms test for liquidator independence

The Grand Court has recently provided helpful clarification as to the appropriate test to be applied when a dispute arises over the identity of the insolvency practitioners proposed to be appointed by a creditor or the company. The Court confirmed the three-stage test for determining independence and that when applying the test, significant weight should be afforded to the creditors' views....
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Brodies LLP | United Kingdom | 17 Sep 2021

Court clarifies whether immunity from suit extends to an examinee questioned under section 236 of the Insolvency Act 1986

The Court of Appeal has overturned a decision of the High Court on whether immunity from suit, generally afforded to participants in court…
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Johnson Winter & Slattery | Australia | 8 Sep 2021

Liquidator vindicated by the Federal Court in the Babcock & Brown liquidation

A hotly anticipated decision in the ongoing saga of the Babcock & Brown liquidation was handed down last week, resulting in another win for the…
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Shoosmiths LLP | United Kingdom | 3 Sep 2021

Insolvency in Scotland: Back to Basics - Part 1, Winding Up

A winding up petition is a form of legal action that can be used when a company is unable to pay its debts as they fall due. Sections 122 to 124 of…
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