24th Edition – National Insolvency & Reconstruction Quarterly Review

30 July 2018

Welcome to the latest edition of our National Insolvency & Reconstruction Quarterly Review for the period 1 April 2018 to 30 June 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:

  • Provides a detailed review of the Federal Court’s decision in White, in the matter of Mossgreen Pty Ltd (Administrators Appointed) v Robertson [2018] FCAFC 63 that demonstrates the importance of administrators seeking directions from the Court in appropriate circumstances prior to embarking on a course of action. Please click here;
  • Looks at the decisions in the recent matters of Freeman; In the matter of Blue Oasis Holdings Pty Ltd [2018] FCA 822 and Trenfield, In the matter of Crusaders Managers Pty Ltd (Administrators Appointed) [2018] FCA 876┬áthat consider the question of whether an administrator or liquidator appointed to a trustee company has the power to deal with the trust assets to satisfy the trustee’s right of indemnity. Please click here;
  • Considers the decision of the Supreme Court of New South Wales In the matter of Say Enterprises Pty Ltd [2018] NSWSC 396 and how it sheds further light on the right to remuneration for interim receivers and managers who may be appointed to a particular asset of a company and explores the principles surrounding what work is “reasonably undertaken” by interim receivers and managers. Please click here;
  • Reviews the Supreme Court of Western Australia’s decision in the matter of Hughes (as liquidator of Westgem Investments Pty Ltd) (In Liquidation) (Receivers and Managers Appointed) v Commonwealth Bank of Australia Ltd [2018] WASC 150 that held that a company’s Quickbooks data file, reports generated from the data file and print outs of those reports are admissible in evidence as the books of a company without the need to call any witnesses to attest to the authenticity of the materials. Please click here;
  • Provides an overview of the Ipso Facto stay provisions and, in particular, the Regulations and Ministerial Declarations (finalised and released at the end of June 2018) that provides various exceptions for when the ipso facto provisions apply. Please click here; and
  • Considers the recent decision in the matter of Pintarich v Deputy Commissioner of Taxation [2018] FCAFC 79 that serves as a reminder of certain areas of caution for legal and financial advisors particularly where a client is insolvent and a GIC component has previously been remitted. Please click here.

We trust that you will enjoy this edition.

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