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Mourant | Guernsey | 13 Jan 2023

Changes to voluntary liquidation in Guernsey

This Update provides an overview the recent changes to Guernsey's insolvency regime affecting voluntary liquidations. Introduction The Companies…
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Fox Mandal | India | 11 Oct 2022

The Liquidator - A Demigod Under the Insolvency and Bankruptcy Code, 2016?

Recently on August 28, 2022, a three-judge bench of the Supreme Court of India delivered a judgement in R.K. Industries (Unit-II) LLP vs. H.R…
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Corrs Chambers Westgarth | Australia | 1 Jul 2022

Court imposes travel ban on director

Scottish Pacific Business Finance Pty Ltd (ScotPac) was engaged in the business of providing debtor finance. In essence, the business model involved…
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Corrs Chambers Westgarth | Australia | 3 Jun 2022

Court declares a clear creditor-defeating disposition under new anti-phoenixing legislation

Intellicomms Pty Ltd (Intellicomms) operated a business providing translation services to businesses under the trading name ‘ezispeak’ in Australia…
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Squire Patton Boggs | United Kingdom | 16 May 2022

(UK) To Whom Should Insolvency Claims Be Assigned?

It is often the case, that insolvency claims are pursued against former directors of the insolvent company or persons connected to them. It is also…
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Corrs Chambers Westgarth | Australia | 13 May 2022

Court dismisses bid to restrain liquidators’ choice of representation

This week’s TGIF considers the recent Queensland Supreme Court decision in CGS Constructions (Qld) Pty Ltd [2022] QSC 28 where it dismissed an…
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Corrs Chambers Westgarth | Australia | 6 May 2022

Can oppression relief still be extracted in liquidation?

Aqua Botanical Beverages (Australia) Pty Ltd (In Liquidation) (the Company) was established to sell water extracted from fruit and vegetables using…
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Corrs Chambers Westgarth | Australia | 22 Apr 2022

High Court refuses special leave to liquidators liable for contaminated land

This week’s TGIF focuses on The Australian Sawmilling Company Pty Ltd (in liq) v Environment Protection Authority [2021] VSCA 294 in which the Court…
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Herbert Smith Freehills LLP | Hong Kong | 4 Apr 2022

Hong Kong Court issues letter of request under Mainland-Hong Kong arrangement for recognition in respect of Cayman company

In a further development to cross-border insolvency cooperation between Hong Kong and Mainland China, the Hong Kong Court has issued a letter of…
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ONC Lawyers | Hong Kong | 24 Mar 2022

The Scope of a bank’s Quincecare duty to protect an insolvent customer from its own fraudulent controller: Does it extend to protect the customer’s creditors?

Stanford International Bank Limited (“SIB”), which collapsed into liquidation in 2009, held multiple accounts with HSBC between 2003 to 2009…
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