ANZ wins penalty shoot out in the High C....

Aug 8, 2016

Two years ago we reported on the Federal Court decision of Paciocco v ANZ which found that late fees charged by ANZ were constituted unenforceable penalties which were “extravagant, exorbitant and unconscionable charges”.    An appeal to the full bench of the Federal...

ERA Legal saves the environment

Jul 25, 2016

On 20 July 2016, ERA Legal made an application on behalf of the Administrators of a number of companies for an order under section 447A of the Corporations Act 2001 (Cth) (the Act)  to modify the requirements of section 439A of the Act. Pursuant to section 439A of the...

Unwinding a winding up order – upd....

Jul 13, 2016

Back in January 2015, we published an article which detailed the law surrounding setting aside a winding up order (as distinct from terminating a winding up).  The recent case of Sadiqi, in the matter of Cook Islands Christian Church of Australia Limited (in liq) v...

Directors beware: Always maintain your b....

Jun 30, 2016

The Supreme Court of Victoria recently handed down its judgement in ACN 103 220 766 Pty Ltd (Formerly ispONE Pty Ltd) (In Liquidation) [2016] VSC 275. What happened? The Director of ispONE Pty Ltd (the Company) had been in his position since 2003. From 2007 to 2012...

Appointing an administrator with a genui....

Jun 17, 2016

In Australian Securities and Investments Commission v Sino Australian Oil and Gas Limited (prov liq apptd) [2016] FCA 42 (ASIC v Sino), the Federal Court considered whether the appointment of an administrator was valid under section 436A of the Corporations Act...