October 2018 – #SVVoidables by Matthew Hudson

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October 22, 2018Insolvency, PPSA, Public Commentary, Voidable Transactions

Insolvency report + court liq (only) = s588FJ orders access

The absurdity of poor legislative drafting was on show on Thursday, as a creditor-appointed Liquidator was made to seek orders appointing himself as a court-appointed Liquidator for the purposes of setting aside voidable security agreements. Let me explain … [the case is Hayes v Spyrou] Pursuant to s588FJ Corporations Act, if a security agreement in…

October 16, 2018DOCA's, Priority entitlements, Trustee companies

Trustee co’s subject to a DOCA can follow Killarnee

Breaking news: the Federal Court has just now held that the Killarnee decision is to be applied in circumstances where a Deed Administrator is seeking to disperse pooled trust assets to a stepped hierarchy of stakeholders. Manpak Holdings is the case name. This means that a Voluntary Administrator appointed to a trustee company that is…

October 15, 2018Insolvency, Public Commentary

I like a RATA, not a ROCAP

Learnt over the weekend that ASIC are substituting in a new insolvency form called the Report on Company Activities and Property (ROCAP). I like what they have tried to do, but all-in-all I am not a fan. Here is a link to the new form. Here is the old form. With thanks to Michael, I…