Out of my way! An easier path to set asi....

Jan 21, 2014

A creditor who wishes to issue a statutory demand should beware! The case of Britten-Norman Pty Ltd v Analysis & Technology Australia Pty Ltd [2013] NSWCA 344 appears to have lowered the bar for the standard of evidence required to set aside a statutory demand by...

Taxpayer guillotined – ATO still not hap....

Dec 17, 2013

Yesterday the Federal Court made unprecedented use of an obscure provision of the Corporations Act to give a distressed company a final chance to sort itself out. Instead of winding the company up immediately, the court made a conditional winding up order, which now...

Making up for lost time: Correcting an i....

Nov 22, 2013

The Personal Properties and Securities Act (“PPSA”) and Personal Property and Securities Register (“PPSR”) have been in operation for some time. The requirement in 588FL(2)(b)(ii) of the Corporations Act (“the Act”) for a secured party to perfect (usually by...

Deputy Commissioner of Taxation v Impres....

Nov 11, 2013

The Federal Court has recently continued the courts’ emerging practice of appointing incumbent administrators as liquidators when there is no reason to question their professionalism or independence, and where the continuation of their tenure may result in costs...

Construction Insolvency, Subcontractors....

Nov 1, 2013

“The collapse of a big contractor has a ripple effect, often ruining scores of subcontractors and suppliers. They are last in the queue as administrators, banks and employees have first call on the assets.” (AFR, 15 November 2012, p.44) Since the New South Wales...