By Jeffery Black (AU) and Nathan Giacci on Posted in Australia,Financial Restructuring & InsolvencyIn Walton v ACN 004 410 833 Limited (formerly Arrium Limited) (In Liquidation) [2022] HCA 3, the High Court of Australia handed down a decision regarding the purposes for which a Court may summon an officer of a corporation for examination about the corporation’s examinable affairs under s 596A of the Corporations Act 2001 (Act).… Continue Reading
By Jeffery Black (AU) and Nick White (AU) on Posted in AustraliaThe Australian Government announced two new restructuring and insolvency processes for small businesses (having liabilities of less than AU$1 million).… Continue Reading
By Jeffery Black (AU) and Nicole Schaillee on Posted in AustraliaBVI based creditor – Mighty River International Limited – challenged the validity of a “holding” deed of company arrangement (or a ‘holding DOCA’) approved by creditors of Australian miner Mesa Minerals Limited (Company). … Continue Reading
By Jeffery Black (AU) and Nicole Schaillee on Posted in AustraliaAustralian insolvency laws recently underwent the most comprehensive review and reform since the early 1990s. Part of those reforms included the introduction of: * a ‘safe harbour’ for directors in respect of the insolvent trading offence; and * a stay on the exercise of certain rights (including termination rights) for counterparties (or ‘ipso facto’ clauses).… Continue Reading
