#SVVoidables by Matthew Hudson
This blog is designed to capture the large volume of my LinkedIn posts. To follow me on LinkedIn search #SVVoidables.
If you’re briefing experts in court proceedings, or are in the business of giving expert evidence, two really important cases were handed down in the past month. Collectively the cases run for about 1,400 paragraphs, so I haven’t been able to finish a cash summary for my followers. As I run a busy practice, it may take…
“Our business is not insolvent,” remarked Scotty, “we have plenty of room in the limit of our debtor factoring facility and we made a small profit last year.” Let me know what you think about this in the comments, because I have heard it 3 times just this week. Do I think this is right? If working…
An interesting aspect to my job is that when I do expert reports, I technically don’t have clients. My overriding obligation is to the Courts and the rule of law. So you tend to have to wait for feedback from Courts. Today, I received such feedback in a judgment from the QLD District Court in relation…
1. Preventing a winding-up application (most common type) 2. Fighting a voidable transaction claim that the Liquidator says occurred when the company was insolvent (very common) 3. Trying to stave off bank recovery or foreclosure action 4. Proving to the board of directors that a Voluntary Administration or #safeharbour proposal is the only option 5.…
It’s official, #QuickBooks is a ‘kept’ ‘book’ for the purposes of the Corporations Act, thanks to a WA Supreme Court decision handed down last Wednesday. 7 barristers and a day of hearings, lead Justice Tottle to this groundbreaking conclusion. The issue was in relation to whether or not a liquidator could rely upon QuickBooks in pursuing various voidable…
“My business is not insolvent,” remarked Jess. “My husband or I could put in our own money should the business need it.” But is that correct? When can you rely upon such funds to stave off insolvency? Many people that come to see me make similar remarks as Jess. They say they could have just sold their…
Whether a company is solvent or not is not determined by assets being greater than liabilities or even a string of profits. What is required is to look at whether the company can pay those liabilities within a reasonable time, from all of its available (and accessible) assets. But could a company be solvent, even where currently…
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