Federal Court cracks down on legal privilege claims – An operational hazard for the multi-disciplinary firms?
A multi-disciplinary firm has used legal privilege to shield documents from the ATO during an audit of its multinational clients, a judge has found, in a ruling that has put multi-disciplinary firms on notice. In Commissioner of Taxation v PricewaterhouseCoopers [2022] FCA 278 Federal Court Justice Moshinsky ruled that a legitimate relationship between lawyer and […]
ReadmoreThe importance of being cautiously aware of contractual terms relating to insolvency termination events
In the matter of Carna Group Pty Ltd v The Griffin Coal Mining Company (No 6) [2021] FCA 1214, the Court held that Griffin Coal Mining Company (Griffin) was insolvent, without having to prove so under the section 95A Corporations Act 2001 (Cth) (Corporations Act). This was in accordance with a contractual provision where it […]
ReadmoreEquitable Assignment: The question is how the parties viewed the transaction not how the transaction was recorded
Business Finance Pty Ltd (receiver and manager appointed) v Partner Invest Pty Ltd (in liquidation) [2022] NSWSC 1 was a dispute between the external administrators of the plaintiff and defendant companies. Marcus Ayres was the appointed receiver and manager of Business Finance Pty Ltd (Business Finance) and Andrew Sallway was the liquidator of Partner Invest […]
ReadmoreLiquidator loses game of Gulf: why the Supreme Court of Queensland refused to terminate the winding up of Gulf Aboriginal Development Company
In a recent case involving key stakeholders in the ‘Century Mine’ (Mine) – located in the lower Gulf of Carpentaria region in Northwest Queensland – the Supreme Court of Queensland considered an application brought by a liquidator and creditor for the termination of a winding up of pursuant to section 482(1) of the Corporations Act […]
Readmore‘Sequencing problem’ – the Court makes orders varying the operation of the Corporations Act to allow a voluntary administrator to transfer shares without owner consent
In the Supreme Court of New South Wales case of In the matter of Habibi Waverton (in liquidation) (administrator appointed),[1] the Court considered whether or not to permit a voluntary administrator to transfer shares in order to implement a Deed of Company Arrangement (DOCA) pursuant to section 444GA of the Corporations Act 2001 (Cth) (the Act). […]
ReadmoreHolman v Brisbane Roar: Court confirms player entitled to recover insurance payments made to club
Brett Holman is a household name for all Australian football fans. He spent most of his professional football career overseas playing in the Dutch Eredivisie, Premier League and UAE Pro League before returning to Australia in 2016 for a final swansong in the A-League with Brisbane Roar FC. He also made 63 appearances for the […]
ReadmoreTo terminate or not to terminate? Proving solvency following the making of a winding up order
Hughes, in the matter of Substar Holdings Pty Ltd (in liquidation) (No. 2)[1] (Substar No. 2) considers the Court’s discretionary power to terminate the winding up of a company pursuant to s 482(1) of the Corporations Act 2001. Substar No. 2 follows the decision of Hughes, in the matter of Substar Holdings Pty Ltd (in […]
ReadmoreFull Court gives Epic Games the green light to continue CCA claim against Apple in Australia
In Epic Games, Inc v Apple Inc,[1] the Full Court of the Federal Court of Australia considered whether an exclusive jurisdiction clause in an agreement between Epic Games and Apple required a competition law claim brought by Epic Games against Apple to be stayed to allow the dispute to play out in the United States. […]
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 […]
Readmore“Don’t let perfect be the enemy of the good”: Court approves pragmatism in liquidators entering into Deed of Settlement
In Re Octaviar Ltd,[1] the Supreme Court of Queensland has given a recent example of a settlement considered too ‘good’ to approve, even while noting its failure to achieve perfection. Where a settlement will significantly progress two very lengthy liquidations and save value for creditors by avoiding further costs and delay, the Court is prepared […]
ReadmoreThe Federal Court demonstrates the flexibility and breadth of orders under section 90-15 of the Insolvency Practice Schedule in a voluntary administration
In Krejci, in the matter of Union Standard International Group Pty Ltd,[1] the Federal Court provides an example of the ways in which section 90-15 of the Insolvency Practice Schedule[2] (IPS) can be used to craft orders that balance the interests of the company, creditors and third parties. Background The applicants were the voluntary administrators […]
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