Remuneration and the importance of proportionality

At our Insolvency: A Year in Review and the Year Ahead seminar in Melbourne on 25 February 2015, we discussed a number of cases decided in late 2014 concerning the reasonableness of time-costed remuneration. It was clear from panel and audience discussion at the seminar (which included representatives from insolvency firms, companies and ASIC) that … Read more

Federal Court of Australia prevents arrest of Commonwealth patrol boat under construction – what is a ‘ship’ and what is an ‘owner’?

Summary In two recent judgments in the same proceeding, the Federal Court of Australia found that a claimant could not arrest a ship for a claim against the bare legal owner of the ship if the ship was beneficially owned by another party who was not liable for the claim. The Court also found that … Read more

Are you secured? – Ship arrest may be the answer

In these difficult times for the shipping industry a claim is only as good as the security held.  Ship arrest is often seen as a necessary first step to obtain security and in some cases to obtain favourable jurisdiction. The Australian Federal Court offers a favourable and efficient jurisdiction for arrest.  An arresting party can … Read more

Boxship banned from Australia for 3 months

As reported in yesterday’s Lloyd’s List Australia, the Australian Maritime Safety Authority (AMSA) has banned the Liberia-flagged boxship Vega Auriga from Australia for three months. Our sources indicate that AMSA has issued a direction to the container ship Vega Auriga that prohibits the ship from using or entering any Australian ports due to repeated breaches … Read more

Cross-border insolvency: An individual’s centre of main interests

Gainsford v Tannenbaum [2012] FCA 904 Summary  The recent decision of Gainsford v Tannenbaum provides a useful discussion and explanation of the presumption pursuant to Article 16(3) of the Model Law that an individual’s centre of main interests will be their “habitual residence”.  Although a company’s centre of main interests was addressed in Australia for … Read more