Secured Creditors and Bankruptcy: Can yo....

Aug 16, 2017

In the recent decision of Morris Finance Ltd v Brown [2017] FCAFC 97, the Full Court of the Federal Court of Australia gave some useful commentary regarding whether an equitable charge holder requires leave of the court to bring a proceeding to enforce its security...

Taking a cautious approach when dealing....

Aug 7, 2017

Liquidators of corporate trustees are continually faced with the conundrum – what powers do I have to deal with trust assets? Often, the corporate trustee will have served no other function than to act as trustee and the only assets available to satisfy debts...

Competing assignments in the context of....

Aug 4, 2017

The time of service of a notice of claim on a principal under the Contractors Debts Act 1997 (NSW) (CD Act) is critical, particularly where the debts of the defaulting contractor have been assigned.  The Supreme Court of New South Wales in West Tankers Pty Limited v...

Chief Operating Officer liable for Misle....

Aug 3, 2017

Contractors beware! In 470 St Kilda Road Pty Ltd v Robinson [2017] FCA 597 (470 St Kilda Road), the Court found the Chief Operating Officer (COO) of a Contractor who made a false statutory declaration concerning the payment status of subcontractors and suppliers, to...

Liquidator Renewal Shenanigans

Jul 20, 2017

Amendments to the Corporations Act 2001 (Act) which came into effect on 1 March 2017 impose on liquidators an obligation to renew their registrations with ASIC every three years, when previously the registration had no specified end date. Two liquidators were recently...