Anti-phoenixing legislation finally passes through Parliament

After having been introduced to the Commonwealth Parliament on 13 February 2019, then re-introduced on 4 July 2019, the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 finally passed through both Houses on 5 February 2020. As its name suggests, the Bill introduces a number of new measures aimed at combating illegal phoenix activity in Australia. Illegal […]

Readmore

To carry out no or little investigation and to say nothing is not an option – a warning to insolvency practitioners

The Federal Court has issued a warning to insolvency practitioners, involved in voluntary administrations, to ensure adequate investigation and reporting occurs of matters that have the potential to materially affect the outcome of the administration. In Adelaide Brighton Cement Limited, in the matter of Concrete Supply Pty Ltd v Concrete Supply Pty Ltd (Subject  to Deed […]

Readmore

Queensland Supreme Court considers “unconventional” forms of security for costs and whether expert reports are privileged and not required to be disclosed

The case of Murphy v Gladstone Ports Corporation Ltd [2019] QSC 12 (Murphy v Gladstone Ports) examines whether: A deed of indemnity issued by a foreign company, coupled with the payment of money into Court for the purposes of enforcing the deed of indemnity in the foreign jurisdiction, is sufficient security for the purposes of […]

Readmore

Marshalling – what is it and how can it help a second registered mortgagee?

Marshalling is an equitable doctrine designed to protect second registered mortgagees from not being paid because of the arbitrary or capricious realisation of a security property by a prior mortgagee. In certain circumstances, a second registered mortgagee may be able to access surplus proceeds of sale from a property which it did not hold a mortgage […]

Readmore

When privileged documents are stolen and disseminated: an analysis of the High Court’s decision in Glencore

In Glencore International AG v Commissioner of Taxation [2019] HCA 26, the High Court considered whether Glencore could restrain the Commissioner of Taxation from making use of certain privileged documents.  Interestingly, the privileged documents in question were stolen as part of a cyberattack from Glencore’s solicitors and disseminated amongst the “Paradise Papers”.   Background Solicitors acting for the […]

Readmore