#SVVoidables by Matthew Hudson
This blog is designed to capture the large volume of my LinkedIn posts. To follow me on LinkedIn search #SVVoidables.
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…
I just finished reading a speech delivered by Allsop CJ (Federal Court) regarding insolvent trading trusts. For any insolvency nerds out there (like me), it’s well worth the read! My takeaway points: 1. We are over thinking insolvent trusts. The Corporations Act applies to trading trusts – get over it! **This one might be me reading…
The ASIC FY2019 annual report was released the other week, and unfortunately it is slim reading for Liquidators looking to ASIC to fund claims against dodgy directors/advisors. By their own admission, YOY comparisons show that the litigation fund set up by ASIC has decreased c$600k since FY2018: Remember, this funding is designed to help liquidators…
Victorian Court of Appeal has just slammed the use of the ‘’sequential trial model’ (STM) in a bitter family dispute involving breaches of trust and fiduciary duties. Hoh v Ying Mui Pty Ltd [2019] VSCA 203 The STM was proposed by the trial Judge due to what he described as the extraordinary breadth of issues in dispute and…
Justice Jackson from the WA Federal Court had just poured ice cold water on mothership proceedings for unfair preference claims. Despite many cases backing mothership proceedings (including SVP’s very own Bias Boating case in the NSW Supreme Court), Jackson J, in effect, says that if the plaintiff Liquidators do not take steps to validate the…
Does this work? Amending the trust deed before a liquidator or administrator is appointed to a company in external administration (“EA“) so that the appointee can sell trust assets. Not according to 2 new Federal Court cases delivered last Friday (see the bottom of the page for the links). The Court prefers that in all…
A Directors Penalty Notice (DPN) issued on a c$19m tax liability ‘guestimate’ by the #ATO has landed a related party director in hot water. Although the amount was later reduced to c$4m (once the ATO issued an amended Estimate Notice), the Court found ([2019] FCA 1086) that the timing to comply with the DPN was…
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
