A surprising Federal Court decision has determined that a liquidator “is not an officer of the corporation for the purposes of the [Corporations] Act”.
A liquidator does not always need to provide security for costs when bringing actions in the name of an insolvent company. Continue reading
Recently, the Victorian Supreme Court handed down a judgment that makes it clear that if you are really being appointed as a receiver, you cannot escape the more stringent regulatory requirements by terming yourself a controller. Continue reading
A recent decision has shed light on when bailments and consignments will be deemed to be “security interests” (and when they will not). This closes potential loopholes in the PPSA.
In a decision handed down yesterday, the Supreme Court got well and truly stuck in to liquidators and their lawyers. Continue reading
When you have two caveators both claiming the same money, who gets paid first?
A recent decision of the Supreme Court of NSW has concluded that the cases “establish clearly enough” that, where a company conducted all its activities as trustee of a trust, the liquidator is entitled to be paid from trust property for general winding up work, not just trust-specific work:
- In the matter of North Food Catering Pty Limited  NSWSC 77.
AFSA has revised its process for handling complaints about the conduct of bankruptcy trustees. Continue reading
In a well known 2009 decision, Hall v Poolman  NSWCA 64, a liquidator was criticised for pursuing a claim in circumstances where the entire sum recovered would be paid to the liquidator and his funder, leaving creditors without a return.
This criticism did not go unnoticed Continue reading