Liquidator left ‘high and dry....

Nov 20, 2014

On 5 November 2014, the Federal Court handed down its decision in Highup Pty Ltd (in Liquidation) v Gubas [2014] FCA 1170. The decision serves as a timely reminder, to both solicitors and litigants, of the importance of putting all available evidence before the court,...

The Commissioner’s indemnity under....

Nov 7, 2014

Many liquidators and accountants will be familiar with the following sequence of events: – A liquidator identifies a payment or payments made by an insolvent company to the Deputy Commissioner of Taxation (Commissioner) within the six months prior to the winding...

Electronic Bankruptcy Notices are confir....

Nov 3, 2014

The Full Federal Court of Australia has recently handed down a judgment confirming bankruptcy notices issued via AFSA’s online services website  are valid. When issuing a bankruptcy notice submitted online, AFSA emails a PDF version of the bankruptcy notice and...

Joe & Joe – IPs’ legal costs under....

Oct 23, 2014

Yesterday the Supreme Court published its long-awaited decision in the Joe & Joe Developments litigation. The litigation has been the subject of much gossip in the industry as it concerned allegations of rampant overcharging by insolvency practitioners and their...

Pay cut on the horizon for liquidators

Oct 21, 2014

On Friday, the NSW Supreme Court handed down two further decisions in its drive to hammer home to liquidators the importance of proportionality when claiming remuneration. In both cases, his Honour Brereton J built on his earlier decision in AAA Financial Intelligence...