Reminder of Relevant Principles in Applications for Extension of Time to Convene Creditors’ Meetings
Administrators often find themselves in a position where they need or desire further time to convene a second creditors’ meeting. The recent Federal Court case of Farnsworth v About Life Pty Limited (Administrator Appointed), in the matter of About Life Pty Limited (Administrator Appointed) [2019] [...]
Avoid suspension until re-compliance by announcing backdoor listing transaction
In May 2016, the Australian Stock Exchange (ASX) changed its policy on backdoor listings so that an entity’s securities will be suspended immediately from the announcement of a backdoor listing transaction. However, the ASX has now relaxed this policy change by allowing entities to avoid [...]
Crowd-Sourced Funding To Be Extended To Include Proprietary Companies
The Federal Government pursuant to its 2017 Budget intends to extend the legislative framework for crowd-sourced funding (CSF) by introducing a new Crowd-Sourced Equity Framework regime for proprietary companies.[1] Currently, the Corporations Amendment (Crowd-sourced Funding) Act 2017 (the CAA)[2], which comes into force on 29 [...]
ASX Admission Changes
In November 2016, the ASX released the Response to Consultation paper (Response Paper) updating their admission requirements for entities seeking to list on the ASX (Admission Requirements). This followed the release of the consultation paper ‘Updating ASX’s Admission Requirements for Listed Entities’ (Consultation Paper), which [...]