Welcome to the 15th Edition of our National Insolvency & Reconstruction Quarterly Review for the period 1 January 2016 – 31 March 2016.
In this edition we explore the following topics:
- The continuing importance of remuneration proportionality and the relevance of control and complexity in assessing time-based remuneration – in the matter of Wine National Pty Limited, James Estate Wines Pty Limited and Liquor National Pty Limited  NSWSC 4;
- A recent decision of the High Court of Australia found that a state Supreme Court has jurisdiction to, among other things, join an insurer to proceedings commenced by liquidators against certain parties for insolvent trading and to make a declaration that the insurer grant indemnity;
- Remind practitioners about taking steps to ensure that their appointment as voluntary administrators has been properly made – a review of the decision of ASIC v Sino Australia Oil & Gas Ltd;
- We look at settlement agreements and priority expenses in the matter of Lewis & Anor v LG Electronics Australia Pty Ltd & Ors  VSC 63;
- A further decision of the Court (Forge Group Power Pty Limited (in liquidation) (receivers and managers appointed) v General Electric International Inc) dealing with the PPSA in the insolvency context – in particular and among other things, whether a particular lease arrangement gives rise to a security interest (and the consequences that follow);
- A focus on the Court’s power to assist administrators in overcoming difficulties faced throughout the administration process in the matter of Renex Holdings (Dandenong) 1 Pty Ltd (Administrators Appointed) & Ors  NSWSC 2003;
- A further aspect in the matter of Independent Contractor Services (Aust) Pty Limited (in liquidation) (No 2)  NSWSC 106 (See Article 1 above) also provides important guidelines concerning the distribution of trust assets to trust creditors; and
- We provide Part 2 (Part 1 appeared in the previous edition of Insolvency Quarterly) over the decisions in more recent times concerning the termination of winding up orders.
We trust that you will enjoy this edition.