Yesterday, the Supreme Court of New South Wales delivered a decision of relevance to the practice of every liquidator in Australia.
Justice Brereton, whose recent decisions on insolvency practitioner remuneration have drawn a fair bit of attention, delivered a complex decision in which he reached conclusions of significance to any liquidator winding up a corporate trustee, considering a claim for superannuation, or seeking court approval of fees. Continue reading
Last Wednesday, Mr and Mrs Pozzebon had a bad day. 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
The Federal Court has recently issued a stark warning about the need for insolvency practitioners to do their homework, thoroughly, before approaching the court for directions – and to use the court only to clarify points that remain unclear after proper investigation and research. Continue reading
In March last year, Faji (Australia) Constructions Pty Limited v AC Professional Accounting Pty Ltd  NSWSC 180, Barrett J said that solicitors must not swear Affidavits in support of Statutory Demands on the basis of information and belief. If they do, the statutory demand is liable to be set aside with costs without the court even bothering to look at whether there might be a genuine dispute or offsetting claim – all you need for the Affidavit to be sworn by the solicitor and you’re home free (and the same presumably applies to Affidavits sworn by the staff debt-collection agencies and anybody else who makes an Affidavit based solely on instructions).
This decision has recently been affirmed Continue reading