Set-off under section 553C: The new defence to unfair preference claims

A recent decision confirms that where a creditor has received a preferential payment, they may offset that payment against any pre-liquidation debt they are owed. From an insolvency practitioner’s perspective, this could significantly reduce or nullify the quantum of any unfair preference claim it may have against a creditor.  Read more...

Do you have an enforceable lease if your landlord is in liquidation?

The High Court in Willmott Growers Group has upheld a Victorian Court of Appeal decision that a lease can be disclaimed by the liquidator of a landlord. In this eBulletin we will discuss the very significant implications this decision will have for tenants.  Read more...

Liquidator Alert: court narrows unreasonable director related transactions

In this eBulletin we discuss a recent Supreme Court of NSW decision: In the matter of Great Wall Resources Pty Limited (In Liq) [2013] NSWSC 354. This decision provides useful insight into the scope of unreasonable director-related transactions.  Read more...

Conflicts of interest and the removal of liquidators

A liquidator is entrusted with an important function in a company’s liquidation or voluntary winding up. The amount of debt a creditor is able to recover is dependent on the liquidator acting with - and being seen to act with - complete impartiality and in the best interest of all the parties interested in the property and liabilities of the company.  Read more...