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

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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

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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

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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

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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

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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

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April 2015 – Insolvency Case Update

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

The decision in the Supreme Court of Victoria of Relux Commercial Pty Ltd (in liq) v Doka Formwork Pty Ltd [2014] VSC 570  reconfirmed the position that the registration of a security interest should occur as soon as possible following the creation of the security interest. To read a summary

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March 2015 – Insolvency Case Update

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

The recent decision of Michalakas v Powell [2014] SASFC 132 in the Full Court of the Supreme Court of South Australia considered whether a Court should grant leave to an individual to bring proceedings on behalf of a company in receivership. To read a summary of the case, please follow

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February 2015 – Insolvency Case Update

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

The recent Federal Court case of Katter v Melhem (No 2) [2014] FCA 1176 considered whether a Court should look behind a Judgment in deciding whether or not to set aside a Bankruptcy Notice. To read a summary of the case, please follow the link: February 2015 – Insolvency Case

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