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Insolvency2018-07-13T13:42:58+00:00

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 otherwise lending assets, the importance of registering their security interest [...]

June 9th, 2016|Insolvency|

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 (Becon) and Anor [2014] VSCA 14. This was the first consideration of s.588FDA [...]

April 3rd, 2014|Insolvency|

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, [...]

April 2nd, 2014|Insolvency|