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  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  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)  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  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.