Trading trusts are a feature of modern business practices and have been for some time. They present complexities for liquidators, administrators and their advisers and cause ongoing difficulty and the need for legislative change.
We have reported and commented upon updates and developments concerning cross-border insolvency matters in all editions of Insolvency Quarterly from time to time. In this quarter we briefly comment upon three particular decisions/themes that emerged over the last quarter.
A recent application to the Federal Court of Australia in Crosbie, in the matter of Hastie Group Limited (in liq)  FCA 1289 (Crosbie) is another reminder of the important role that litigation funders can play to assist liquidators in maximising the return to creditors in a liquidation. However, if insolvency practitioners decide that they are going to seek assistance from a litigation funder to pursue potential actions or examinations, it is important that they comply with section 477(2B) of the Corporations Act 2001 (Cth)(Act) and seek either the approval of creditors, the committee of inspection or the Court.
Welcome to the latest edition of our National Insolvency & Reconstruction Quarterly Review for the period 1 October 2016 - 31 December 2016.
In this recent case of Colonial Range Pty Ltd v CES-Queen (Vic) Pty Ltd  VSCA 328, the Victorian Court of Appeal clarified the insurance requirements for protection works under section 93(1) of the Building Act 1993 (Vic).
Holden has announced that 20 October 2017 will be the last day for its Australian motor vehicle manufacturing operations.