#SVVoidables by Matthew Hudson
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Do not seek an extension of time of the convening period in a Voluntary Administration until after the first meeting of creditors – that’s the veiled message I got from reading Justice Farrell’s comments in a recent Federal Court case. The case is Clubb, in the matter of DS Opco Pty Ltd (administrators appointed) (receivers…
Big case delivered yesterday in the NSW Court of Appeal (South Head & District Synagogue case). I have been waiting months for this one. The case relates to whether the Voluntary Administrators could terminate the employment of the Chief Rabbi. The Rabbi argued that Orthodox Jewish Law (Hazakah) should be incorporated into Australian Law, meaning…
If you appoint a Voluntary Administrator (“VA”) to your company, it pays to first carefully form an opinion as to its insolvency (or future insolvency); otherwise you are in for an expensive day in court. The Corporations Act requires directors, when resolving to appoint a VA, to form an opinion that the company is insolvent,…
At the end of last year, the Federal Court handed down a decision that, respectfully, I’m feeling conflicted about. On the one hand, of course an Administrator (“VA”) should be paid for their reasonable remuneration. Even if the appointment is invalid due to circumstances outside of the VA’s control. But on the other hand, if the VA is invalid…
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