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...

New withholding requirements for purchas....

Jun 15, 2016

From 1 July 2016 a purchaser of Australian land or an interest in Australian land valued at $2,000,000 or more will be required to withhold 10% of the purchase price and pay this directly to the ATO. Given the price of property in Sydney and Melbourne this is likely...

Riveting reading: ASIC’s annual re....

Jun 10, 2016

On 8 June 2016, ASIC released its fifth annual report for 2015 into the supervision of registered liquidators in Australia. Luring readers in with a thrilling title of“ASIC regulation of registered liquidators: January to December 2015”, Report 479 summarises the work...

The sale of a company for “market....

Jun 8, 2016

The Delaware Court of Chancery recently over-ruled the market in determining that the board of Dell Inc. sold the company for too little when taken over by a buyout group in 2013 despite there being no higher offer.  This could prove a dangerous precedent if adopted...

Administrators vindicated in exercising....

Jun 7, 2016

ERA Legal has successfully protected the subsequent purchasers of intellectual property acquired from the administrators of a company, in proceedings undertaken in which orders were sought to have the subject sale set aside. It was argued that the sale agreement...