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.
Welcome to the latest edition of our National Insolvency & Reconstruction Quarterly Review for the period 1 July 2016 - 30 September 2016.
Beach J's decision outlines the reasons why a mere contractual indemnity does not amount to a registerable security interest.