Welcome to the latest edition of our National Insolvency & Reconstruction Quarterly Review for the period 1 January 2018 to 31 March 2018.
A significant amount of activity has occurred over the last quarter and we outline a few of those matters in this edition. In particular, our team:
- Considers the recent appeal decision in the matter of Longley v Chief Executive, Department of Environment and Heritage Protection & Anor; Longley & Ors v Chief Executive, Department of Environment and Heritage Protection [2018] QCA 32 in respect of Linc Energy Limited (in Liquidation) and the environmental obligations imposed on a company and its liquidator in respect of land. Please click here;
- Looks at the decision of the Supreme Court of New South Wales in the matter of SurfStitch Group Limited [2018] NSWSC 164 and the importance of insolvency practitioners to properly estimate the value of a creditor’s claim. Please click here;
- Reviews the decision in Shaoyong (David) Guo & Anor v Xinwei Song & Ors In the matter of SG Capricorn Investments Pty Ltd (subject to Deed of Company Arrangement); Dameng Developments Pty Ltd (subject to Deed of Company Arrangement); and New Mangrove Pty Ltd (subject to Deed of Company Arrangement) [2018] NSWSC 12 in which the Court granted the application to set aside the Companies’ creditors’ resolutions authorising entry into the DOCA pursuant to section 75-41 of the Insolvency Practice Schedule (Corporations) and terminated the DOCA pursuant to section 447A of the Act. Please click here;
- Provides a detailed review of the High Court of Australia’s decision to grant special leave to appeal in Mighty River International Limited v Hughes & Ors [2018] HCA Trans 026 and the effect this has on the validity of a ‘holding’ Deed of Company Arrangement (DOCA). Please click here; and
- Reviews the recent decision of Killarnee Civil that considers whether certain rights of a trustee is property of the company and provides guidance for the distribution of assets by corporate trustees. Please click here.
We trust that you will enjoy this edition.