Impact on mortgagees of a bankruptcy trustee’s disclaimer of mortgaged land
A mortgagee may be faced with a situation where the mortgagor becomes bankrupt and the trustee, in which the property then vests, disclaims the mortgaged property. We outline the process a mortgagee is required to follow when a mortgaged property has been disclaimed and summarise the key issues considered by the Court. Click below to […]
ReadmoreAustralian Regulators Weekly Wrap — Monday, 19 July 2021
Keeping on top of the latest financial services regulatory and compliance trends? Investing time in your professional development within a rapidly changing financial services industry is challenging. To meet that challenge, the Australian Regulators Weekly Wrap is designed to keep you at the forefront of your practice by quickly setting out the top five developments from the […]
ReadmoreThe Jack saga: the future of decisions on intentional doping and a substandard process
Anticipated to be announced this week, the appellate decision by a panel of the Court of Arbitration of Sport (CAS) in CAS 2020/A/7579 World Anti-Doping Agency v. Swimming Australia, Sport Integrity Australia & Shayna Jack and CAS 2020/A/7580 Sport Integrity Australia v. Shayna Jack & Swimming Australia Limited is expected to strongly influence future anti-doping […]
ReadmoreMove to permanent reforms to the Corporations Act – electronic signatures, virtual meetings
The Federal Government has released the exposure draft of legislation (Exposure Draft) amending the Corporations Act 2001 (Cth) (Corporations Act) to allow for technologically-assisted meetings and the long-awaited electronic execution of company documents. As noted in our previous article, the emergency reforms under Corporations (Coronavirus Economic Response) Determination (No. 3) 2020 expired on 21 March […]
ReadmoreAustralian Regulators Weekly Wrap — Monday, 12 July 2021
Keeping on top of the latest financial services regulatory and compliance trends? Investing time in your professional development within a rapidly changing financial services industry is challenging. To meet that challenge, the Australian Regulators Weekly Wrap is designed to keep you at the forefront of your practice by quickly setting out the top five developments from the […]
ReadmoreCOVID-19 | Vaccinations and privacy – what can businesses ask individuals about COVID-19 vaccinations?
The Australian Health Protection Principal Committee has been requested last month to reconsider its previous decision against mandating COVID-19 vaccinations for aged care workers. Given the most recent outbreaks in New South Wales and Queensland, and the growing call for accelerating the COVID-19 vaccine roll-out in Australia, businesses will need to be aware of the […]
ReadmoreAustralian Regulators Weekly Wrap — Monday, 5 July 2021
Keeping on top of the latest financial services regulatory and compliance trends? Investing time in your professional development within a rapidly changing financial services industry is challenging. To meet that challenge, the Australian Regulators Weekly Wrap is designed to keep you at the forefront of your practice by quickly setting out the top five developments from the […]
ReadmoreATO on the watch after liquidators claw back funds despite a Deed of Company Arrangement
In the matter of Western Port Holdings Pty Ltd (receivers and managers appointed)(in liq) [2021] NSWSC 232, Deed Administrators who were subsequently appointed Liquidators of Western Port Holdings Pty Ltd (the Company) clawed back over $2 million worth of payments made to the Australian Taxation Office (ATO) whilst the Company was subject to a Deed […]
ReadmoreFederal Court approves administrators’ entry into funding deed to trade company pending sale
Section 90-15 of the Insolvency Practice Schedule (the IPS) confers on Courts wide powers to adjust rights related to companies in external administration. Here, the administrators of a mining group obtained orders approving their entry into a deed to fund the ongoing operation of the group pending sale and limiting their liability under the deed […]
ReadmoreFederal Court considers whether bankrupt’s property should vest in mortgagees following disclaimer by bankruptcy trustee
The Federal Court’s recent decision in Kellendonk[1] concerned a $350,000 loan made by the applicants, Mr and Mrs Kellendonk, to Ms Maria Jasienska-Dudek to help her buy a property in Midland, Western Australia (Property). Ms Jasienska-Dudek defaulted under the loan agreement and the parties subsequently entered an informal agreement which, after Ms Jasienska-Dudek became a […]
ReadmoreIt’s a brave new world: NZ and Australian courts join to determine a high profile, cross-border insolvency
Cross-border insolvency has ventured into new territory as a judgment is released from the first contemporaneous sitting of the Federal Court of Australia and the High Court of New Zealand. Liquidators originally sought separate directions from each Court regarding the distribution of funds from the insolvency of Halifax New Zealand Ltd (Halifax NZ) and Halifax […]
ReadmoreManaging supply shortages and rising construction costs
As countries around the world counter the economic effects of COVID-19 by undertaking infrastructure projects and stimulating domestic construction, this has impacted global construction markets by creating: a shortage of some building materials; unpredictability in whether materials will be readily available when required; and upward pressure on labour and materials costs. To tackle these issues […]
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