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The Often Overlooked Equity of Exoneration: How It Could Save Your Family Home

Insolvency

December 11, 2024

The Often Overlooked Equity of Exoneration: How It Could Save Your Family Home

With insolvencies surging by 43% in the quarter ending 29 September 2024, many small and medium businesses — and their owners — are feeling the financial strain. For directors and their families, the…

Carl Millington

Director Penalty Notices: A refresher as the ATO ramps up collections activity

Insolvency

January 24, 2023

Director Penalty Notices: A refresher as the ATO ramps up collections activity

During 2022, the ATO issued almost 18,500 director penalty notices ( DPNs ) to directors of Australian companies. A further 52,000 directors received warnings, and the ATO has started referring…

Carl Millington, Andrew Kaspen

Liquidators given Court’s approval to compromise judgment debts

Insolvency

November 12, 2018

Liquidators given Court’s approval to compromise judgment debts

In the recent decision of Sheahan, in the matter of BCI Finances Pty Limited (in liq) [2018] FCA 1499, Justice White of the Federal Court approved the entry by liquidators into an agreement…

Carl Millington, Ben Drysdale

How the Court assesses competing applications for substitution in winding up applications

Insolvency

July 16, 2018

How the Court assesses competing applications for substitution in winding up applications

Pointon Partners regularly appears for creditors at winding up applications in the Supreme Court of Victoria. Creditors owed debts by companies subject to winding up proceedings commenced by others…

Carl Millington

Ipso Facto Amendments: Do they apply to existing contracts?

Insolvency

October 11, 2017

Ipso Facto Amendments: Do they apply to existing contracts?

The Government says the amendments apply only to contracts entered into after commencement. But what does the Bill say? The proposed Ipso Facto amendments [1] impose a stay on the enforcement of…

Andrew Cox

Going behind a judgement debt in bankruptcy proceedings

Insolvency

October 5, 2017

Going behind a judgement debt in bankruptcy proceedings

Often, bankruptcy proceedings will be based on a judgement debt. In such proceedings, the Bankruptcy Court must satisfy itself that the debt being claimed by the petitioning creditor is truly owing,…

Pointon Partners

New Safe Harbour Provisions – Directors’ protection in insolvent trading situations

Insolvency

September 25, 2017

New Safe Harbour Provisions – Directors’ protection in insolvent trading situations

Australia’s insolvent trading laws are set to be drastically altered by the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 ( Bill ), which was passed by the senate on 11…

Michael Bishop

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

Insolvency

June 22, 2017

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…

Pointon Partners

Insolvency

May 29, 2017

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…

Pointon Partners

How an $8 PPSR security registration could have saved $50m of GE money

Insolvency

June 9, 2016

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…

Pointon Partners

Insolvency

April 3, 2014

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…

Pointon Partners

Liquidator impartiality: ASIC v Franklin, Horne and Stone (Liquidators), in the matter of Walton Construction Pty Ltd (In Liquidation) (Company)

Insolvency

April 2, 2014

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…

Pointon Partners

Are You Authorised? – Important Update For External Administrators Of Licensees

Insolvency

March 26, 2014

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…

Pointon Partners