Zone of Insolvency

Zone of Insolvency

Deborah Tsai

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Australian High Court banishes statutory set-off, sets up liquidator recoveries in unfair preference decision

By Laura Johns and Deborah Tsai on Posted in Australia, Financial Restructuring & Insolvency
In a landmark case, the High Court of Australia this month unanimously determined in Metal Manufactures Pty Limited v Morton [2023] HCA 1 (Morton) that set-off is not available against a liquidator’s unfair preference claim. The effect of the decision is that a creditor is not entitled to deduct any outstanding claim that it might… Continue Reading

Modernising business registers and director identification numbers

By Natasha Toholka (AU) and Deborah Tsai on Posted in Australia
A package of five legislative reforms — Commonwealth Registers Bill 2019, Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019, Business Names Registration (Fees) Amendment (Registries Modernisation) Bill 2019, Corporations (Fees) Amendment (Registries Modernisation) Bill 2019, and National Consumer Credit Protection (Fees) Amendment (Registries Modernisation) Bill 2019 — received royal assent on 23 June… Continue Reading