Resisting a winding up application by a....

Jun 19, 2017

In the recent decision of 640 The Esplanade Pty Ltd v Splash Bay Pty Ltd (No 2) [2017] FCA 89 the Federal Court of Australia discussed the limits to the bases upon which a debtor company could oppose a winding up application by a substituted creditor.    Facts Splash...

Terminating a winding up: The need for u....

May 29, 2017

In the recent decision of Deputy Commissioner of Taxation v Project Tiling Group Pty Limited [2017] FCA 208, the Federal Court of Australia dismissed an application by the sole director of Project Tiling Group Pty Limited (in liquidation) (Company) for an order...

Director Convicted for Falsifying Compan....

May 15, 2017

For obvious reasons, the concealment, destruction, mutilation or falsification of a company’s books is capable of being an offence under the Corporations Act 2001 (Cth).  The Australian Securities & Investments Commission (ASIC) has reported that a director...

Exercising options – A pixie is no....

May 15, 2017

An option is a term within a contract that gives one party (the Grantee) the option to exercise a right granted by the other party to the agreement (the Grantor). Two common examples of options are: Options in a lease giving the tenant the option to enter into...

Director Cleans Bank Account

May 1, 2017

Following an investigation by the Australian Securities and Investments Commission (ASIC), the NSW DPP recently obtained a conviction against the director of a cleaning company (Company) for a breach of section 590(1)(c)(i) of the Corporations Act 2001 (Cth.). Section...