#SVVoidables by Matthew Hudson
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CCS Pty Ltd (CCS) entered Voluntary Administration on 19/6/18. On 16/7/18, the Administrators issued their second report to creditors, recommending that creditors vote in favour of the Deed of Company Arrangement (DOCA) proposal. Read more about what DOCA’s are here: HDOCA’s are valid, here’s why The DOCA Proposal The DOCA terms proposed to creditors: said…
A quick FYI, if you need to appeal a decision from the court that set aside a statutory demand (and the wind-up application) YOU DO NOT need to apply to extend the period of the statutory demand under s459R of the Corporations Act 2001 (Cth). The reasoning of today’s case was that the decision to…
Breaching books and records laws may have just got a whole lot easier to prove, according to a recent Federal Court case (Re Adelaide Brighton Cement Limited (No 4) [2019] FCA 1846). Insolvency people regularly talk about directors of insolvent entities not properly keeping records or those records being wrong. Although it is a civil…
An oldie, but a goody. If you have ever wondered what type of voidable transaction you can pursue or need to defend against, I prepared the below tree diagram a while back to help. My team uses it all the time, so I hope you get use out of it too! voidables-tree-diagram Send me a…
Can a Liquidator prepare their own insolvency report for court proceedings? Yes (in theory) … but I think there are two hurdles you need to overcome before you can say for certain. One of which, I am saving for an article I am writing for the ARITA journal. Spoiler: some professional body members may be excluded from preparing their…
One day Liquidators will work out a solution to clawback garnishee payments made to the Australian Taxation Office pre-appointment. But s 569 is not likely one. Garnishees have long been a thorn in our sides, as it no doubt gives the ATO an unfair advantage (when they knew or ought to have known of the Company’s…
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