#SVVoidables by Matthew Hudson
This blog is designed to capture the large volume of my LinkedIn posts. To follow me on LinkedIn search #SVVoidables.
6 categories of stock (see photo below) worth approximately $470k, at least 97 affected retail customers, different classes of secured creditors, and MYOB data was not entered correctly … who gets what and how does the liquidator cover her/his costs and fees? This was the scenario faced recently by a liquidator, which has been revealed…
Another case on trusts and insolvent corporate trustees was handed down recently, this time by Derrington J in the Federal Court. Much longer decision than the Amerind, High Court, one recently! Main things to take away: — sham unit trust created when members of a community put money together for the purpose of purchasing properties —…
Aussie Farmers Direct Liquidation (AFD) has hit the news again, following a judgment handed down last week from the Victorian Supreme Court (VSC). The VSC ruled in favour of FEG, and against the Liquidator, by holding that the Marketing Fund is property of AFD, “comprised in or subject to a circulating security interest” (CSI) and is available for…
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…
Purchase Money Security Interests (“PMSI”) really do have a super power, according to a Full South Australian Court decision handed down on Friday. Case name: Samwise Holdings v Allied Distribution Finance [2018] SASCFC 95 The Court granted a PMSI holder a priority over 40 motorcycles above a first-in-time registered general security holder. The facts were:…
Just when you thought trust company liquidation law was finally settled by two superior court cases this year, Justice Brereton has another bite of the cherry. The liquidator applied to Justice Brereton seeking declarations that the trust assets: (1) were to be treated, in effect, as company assets via the right of indemnity as corporate…
Australian Treasury have just now released for consultation proposed new legislation to “address corporate misuse of the FEG employee scheme” in a liquidation scenario. For those unaware, the FEG scheme is a government fund setup to protect certain employee entitlements when a company goes into Liquidation. Over the last 4 years, the funds used in the FEG…
Travis Mitchell, Barrister at the Victorian Bar
Genuine journalism and professional intelligence for Australia's insolvency and restructuring profession.
All about Health and Fitness
Latest news impacting bankruptcy down under
Online access to articles by Geoff Green
Commentary on insolvency, banking and commercial law. Musings on cycling, running, triathlon and good health.
Developments in insolvency and commercial law
