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Court Of Appeal Examines What Constitutes A Supporting Affidavit In An Application To Set Aside A Statutory Demand

In the recent case of Imagebuild Group Pty Ltd v Fokust Pty Ltd [2017] VSCA 131, the  Court of Appeal considered whether a ‘supporting affidavit’ had been sworn, served and filed within the time limit prescribed by section 459G of the Corporations Act 2001 (Cth) (“Act”). On 10 Februar
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Overview of the Insolvency Practice Schedule – enhancing the rights of a creditor in an external administration

Introduction The Insolvency Practice Schedule (Corporations) Schedule (Schedule), which was introduced as a schedule to the Corporations Act 2001(Cth) (Act) in February 2016, will become fully operative in the next few months. As at 1 March 2017, a portion of this schedule has become
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How an $8 PPSR security registration could have saved $50m of GE money

A major Personal Properties Security Act (PPSA) ruling in Forge Group Power Pty Limited (in liquidation)(receivers and managers appointed) (Forge) v General Electric International Inc  (General Electric) [2016] NSWSC 52 has highlighted for those involved in leasing, renting, hiring or
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Insolvency: unreasonable director-related transactions

The Victorian Court of Appeal recently considered s.588FDA of the Corporations Act (the Act) relating to unreasonable director-related transactions: Vasudevan as Liquidator of Wulguru Retail Investments Pty Ltd (In Liquidation) (Wulguru) v Becon Constructions (Australia) Pty Ltd (Beco
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Liquidator impartiality: ASIC v Franklin, Horne and Stone (Liquidators), in the matter of Walton Construction Pty Ltd (In Liquidation) (Company)

ASIC has filed an appeal against the dismissal of a case in which it sought to have liquidators removed on the basis of an apprehension of impartiality: ASIC v Franklin, in the matter of Walton Construction Pty Ltd (in liq) [2014] FCA 68. The appeal has not yet been heard, but it indi
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Are You Authorised? – Important Update For External Administrators Of Licensees

In recent times, with the various economic and financial pressures impacting on the hospitality industry, it’s not uncommon for External Administrators to be appointed to administer Licensees and their Licensed Business. What is often overlooked when an External Administrator is
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