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Recent news and updates in ERA Legal. If you would like help with any legal issue please call the experts at ERA Legal for advice.

Selling assets in breach of trust: seeki....

We recently wrote about issues arising from the amendment of a trust deed prior to an insolvency event, including the removal of ipso facto clauses that have the effect of automatically removing corporate trustees (which continue to act as a bare trustee if not...

Staying winding up orders: Can directors....

In the recent decision of Deputy Commissioner of Taxation v NRA Engineering Pty. Ltd. (in liq) [2019] FCA 1567, Justice Anderson of the Federal Court of Australia dealt with an application made by the director of a liquidated company seeking to stay the winding up...

“Attaching” judgment to a bankruptcy not....

In Mastronardo v Commonwealth Bank of Australia Limited [2019] FCAFC 127 the Full Court of the Federal Court of Australia recently provided some insight into the formalities of issuing bankruptcy notices. Mr and Mrs Mastronardo were each served with bankruptcy notices...

Progress on Phoenix Activity

A recent decision of the Federal Court of Australia, ACN 093 117 232 Pty Ltd (in liq) V Intelara Engineering Consultants Pty Ltd (in liq) [2019] FCA 1489, will give cause for thought to those involved in the “restructuring” industry. The Court considered a...

Amending trust deeds pre-liquidation – a....

The continuing saga of insolvent trustees: amending instruments immediately before liquidation In the recent decision in Carrello, in the matter of Gembrook Investments Pty Ltd (in liquidation) [2019] FCA 1143, the Federal Court of Australia dealt with an application...

Winding up applications and related part....

When one creditor is more equal than the other: winding up applications and related party creditors In the recent decision In the matter of Cresco Opus Fund No 4 Pty Limited (Administrator Appointed) [2019] NSWSC 941 the Supreme Court of New South Wales considered...

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