Priority creditors denied payment

Jul 22, 2015

In Re CMI Pty Ltd; Byrnes & Ors v CMI Limited the liquidators of CMI Pty Ltd (the Company) sought directions under section 511(1) of the Corporations Act 2001 (Cth) (the Act) from the Supreme Court of Queensland as to how to treat trading profits generated as a...

Employee disentitlements

Jul 9, 2015

In Perthmetro Pty Ltd, in the matter of Perthmetro Pty Ltd (in liq) [2015] FCA 671 the liquidator of the company in question applied to the Federal Court for a determination under s511(1)(a) of the Corporations Act 2001 (Cth) of the question of whether one or more of...

ATO circumvents section 486 protection

Jul 8, 2015

Section 486 of the Corporations Act says that a court-appointed liquidator must not allow creditors or shareholders to inspect company books and records without a court order. A recent Federal Court decision has held that the prohibition also applies in voluntary...

What to do with $11.8 million in unprese....

Jul 6, 2015

The case of Westnet WA Infrastructure Holdings Limited [2015] NSWSC 658 (Westnet) deals with an unusual situation where a the liquidator in a members’ voluntary winding up applied for directions under s511 of the Corporations Act 2001 (Cth) (the Act). The...

Demanding Debts from Downloaders

Jun 19, 2015

The long running saga of the Dallas Buyer’s Club litigation may shortly hit another snag, but for the plaintiff this time. In his judgment earlier this year, Justice Perram granted preliminary discovery for the plaintiff against the defendants to require the...