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...

Discretionary Trusts: Can they be truste....

Apr 10, 2017

It has long been understood that a bankrupt’s potential interest in assets of a discretionary trust (arising by virtue of being one of a number, or class, of beneficiaries of the trust) is not property of the bankrupt within the meaning of section 5 of the...

Last Minute Offers of Compromise: When w....

Apr 3, 2017

In the recent decision of Project Gas Services Pty Ltd v Leaseplus Operations Pty Ltd [2017] VSCA 55  (Project Gas Services) the Supreme Court of Victoria, Court of Appeal set out some useful guidance for parties to litigation considering making an Offer of Compromise...

Give me one good reason! Setting aside a....

Mar 13, 2017

In the recent Supreme Court of New South Wales decision of PostNet Australia Pty Ltd [2017] NSWSC 160, PostNet Australia Pty Ltd (PostNet) applied under section s 459G (and ultimately 459J) of the Corporations Act 2001 (Cth) for an order setting aside a statutory...

Palmer Drama

Mar 13, 2017

On 8 February 2017 the High Court of Australia delivered its judgment in the matter of Clive Frederick Palmer v Marcus William Ayres, Steven James Parbery and Michael Andrew Owen in their capacities of Liquidators of Queensland Nickel Pty Ltd (in liquidation) &...