Low v Barnet (Trustee) [2017] FCAFC 60

By Tim Elliott • In Bankruptcy Law, Dispute Resolution, Insolvency Law, LitigationComments Off on Low v Barnet (Trustee) [2017] FCAFC 60

Introduction Recently, the Federal Court of Australia (Court of Appeal) has passed judgment regarding a sole creditor seeking every realisable dollar of a bankrupt’s estate in the matter of Low v Barnet (Trustee) [2017] FCAFC 60. The appeal was heard before Flick, Jagot and Gleeson JJ. Facts In 1993, Ms

Read More

How Demanding: The Standard for Supporting Affidavits when Setting Aside Statutory Demands – Insolvency 101

By Tim Elliott • In Bankruptcy Law, Dispute Resolution, Insolvency LawComments Off on How Demanding: The Standard for Supporting Affidavits when Setting Aside Statutory Demands – Insolvency 101

Solicitors beware – the recent case of Imagebuild Group Pty Ltd v Fokust Pty Ltd [2017] VSCA 131 has reiterated the standards that are expected for a supporting affidavit that accompanies an application to set aside a statutory declaration. On 30 January 2017, Fokust Pty Ltd obtained a judgment against

Read More

Does Administration Protect You From Director Guarantees?

By Tim Elliott • In Insolvency LawComments Off on Does Administration Protect You From Director Guarantees?

Introduction: The recent case of Mizuho Bank Ltd v Mark Anthony Ackroyd [2016] NSWSC 1148 has held that directors who are guarantors will not be held personally liable for company’s debts during an external administration period, provided that the proceedings were not commenced prior to administration as per s 440J

Read More

Super Death Benefits Protected in Bankruptcy

By Tim Elliott • In Bankruptcy LawComments Off on Super Death Benefits Protected in Bankruptcy

Introduction: In the past, there has been uncertainty as to what happens when a bankrupt receives a payment from a superannuation fund held by their deceased spouse. Is it covered under of s 116(2) of the Bankruptcy Act 1966 (“the Act”), which protects the interest of a bankrupt in a

Read More

Distributing the Assets When Winding-up Companies in a Partnership

By Tim Elliott • In Insolvency LawComments Off on Distributing the Assets When Winding-up Companies in a Partnership

Introduction: When companies in liquidation are in a partnership, with the liquidators appointed acting for the companies, and the assets realised by the liquidator are assets of the partnership, how is a liquidator to apply the proceeds of realisation? Do they apply the proceeds in accordance with the relevant Partnership

Read More

Airbnb arrangement found to breach lease

By Tim Elliott • In Litigation, Property LawComments Off on Airbnb arrangement found to breach lease

Introduction: The matter of Catherine Swan v Uecker [2016] VSC 313, discussed, inter alia, whether the Respondents had granted a lease or a licence to third parties by renting out the Applicant’s apartment through the AirBnB platform during her tenancy as a tenant of the apartment.. In this case, the

Read More

Discrimination against deaf jurors

By Tim Elliott • In LitigationComments Off on Discrimination against deaf jurors

Jurors are a group of people who help to ensure the natural justice of the Australian legal system. They help to ensure the trial process is fair and just. A recent High Court case proved that not everyone is entitled to sit in the jury panel, especially people with a

Read More

Liquidators successfully argue that leased property vested in company immediately before appointment of administrators under PPSA

By Tim Elliott • In Bankruptcy Law, Insolvency LawComments Off on Liquidators successfully argue that leased property vested in company immediately before appointment of administrators under PPSA

Facts: The matter of Forge Group Power Pty Ltd (in liquidation) (receivers and managers appointed) v General Electric International Inc [2016] NSWSC 52 concerns the lease of four model TM 2500+ mobile gas turbines from formidable American corporation General Electric (“GE”) to an Australian company Forge Group Power Pty Ltd

Read More

Liquidators may challenge the determinations of insolvent company directors’ insurers

By Tim Elliott • In Bankruptcy Law, Insolvency LawComments Off on Liquidators may challenge the determinations of insolvent company directors’ insurers

Introduction: The matter of CGU Insurance Limited v Blakeley & Ors [2016] HCA 2, discussed, inter alia, whether insurers of the directors of an insolvent company could be joined to legal proceedings involving the liquidation of their former company. In this case, liquidators were seeking a declaration from the Court

Read More

May 2015 – Insolvency Case Update

By Tim Elliott • In Bankruptcy Law, Insolvency LawComments Off on May 2015 – Insolvency Case Update

The decision in the Federal Court of Australia case of Kijurina (as liquidator of ET Family Pty Ltd) v Taouk [2015] FCA 424 confirmed that a Family Law Binding Financial Agreement will not necessarily protect company assets and can expose a director to the various penalty and compensation provisions in

Read More