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Schwartz & Kanyon LLC | USA | 20 May 2022

A Divorce Lawyer's Guide to the Illinois Fraudulent Transfer Act

Sometimes a dissipation-of-assets claim under the IMDMA isn't enough when a recalcitrant spouse hedes assets. Never fear - the Illinois Uniform…
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Schwartz & Kanyon LLC | USA | 20 May 2022

Literally Taking the Case

IMAGINE THE FOLLOWING SCENARIO: WITHOUT FIRST CONSULTING ITS LAWYERS, your firm’s major client, Hapless Client, LLC (“Hapless”) entered into a…
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Corrs Chambers Westgarth | Australia | 20 May 2022

High Court finds lenders not entitled to rely on certificates of independent advice

This week's TGIF considers Stubbings v Jams 2 Pty Ltd [2022] HCA 6, in which the High Court overturned a finding by the Victorian Court of Appeal and…
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Schwartz & Kanyon LLC | USA | 20 May 2022

Defending Confession Judgment Cases in Illinois

A confession of judgment lets a creditor Take a judgment without notice to the Debtor, who usually first learns of the Lawsuit when the creditor…
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Nelson Mullins Riley & Scarborough LLP | USA | 19 May 2022

11th Circuit Approves of Third-Party Releases Despite Debtor’s Failure to Comply with Strict Notice Requirements of Bankruptcy Rules

The Bankruptcy Protector Overview Although a discharge might not release third parties and protects only the debtor against a determination of…
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Gadens | Australia | 19 May 2022

Working out your priorities - how employee creditors claims were able to trump research and development tax refunds

In the recent case of In the matter of Spitfire Corporation Limited (in liquidation) and Aspirio Pty Ltd (in liquidation) [2022] NSWSC 340, the NSW…
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Snell & Wilmer LLP | USA | 19 May 2022

First Circuit Joins the Ninth Circuit by Holding That Section 106(a) of the Bankruptcy Code Waives Tribes’ Sovereign Immunity

Deepening a split of circuits, the First Circuit Court of Appeals held that the Bankruptcy Code waived the sovereign immunity of Native American…
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Gadens | Australia | 19 May 2022

The Court’s willingness to extend the convening period for a meeting of creditors where the administration is large and complex

In Algeri, in the matter of WBHO Australia Pty Ltd (Administrators Appointed) [2022] FCA 169, the Federal Court heard the second application by the…
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Maddocks | Australia | 19 May 2022

Probuild and beyond: Insolvency issues for construction projects

The appointment of voluntary administrators to Probuild in March 2022 sent shockwaves through the construction industry. External administrations of…
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Macpherson Kelley | Australia | 19 May 2022

seal broken on new anti-phoenix law

Anti-phoenix laws were introduced in 2020, however, it wasn’t until last week that a judgment enforced these laws in Court, setting out clear…
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