|
|
Insolvency Update February 2007 |
|
| Focus: |
Insolvency news |
| Services: |
Financial Services |
| Industry Focus: |
Financial Services |
| Date: |
28 February 2007 |
| Author: |
Wendy Jacobs, Partner, Mark Addison, Partner and Noella Collingridge, Associate, Sydney |
|
Dibbs Abbott Stillman Lawyers restructured on 1 March, 2009.
The Sydney, Brisbane and Canberra offices are now DibbsBarker.
|
Son's of Gwalia: The third strike against the shareholder/ creditor distinction
Mr Margaretic was an on-market purchaser of shares in Sons of Gwalia Limited. Mr Margaretic claimed that he had suffered loss equal to the amount of the price of his shares as a result of misleading behaviour on the part of the company. On 30 January 2007, the High Court of Australia confirmed that shareholders in the position of Mr Margaretic can claim in competition with other creditors under a deed of company arrangement. The case has excited a great deal of comment and concern. Insolvency practitioners are concerned about the effect of the judgment on the cost and efficiency of the voluntary administration process. Lenders have also weighed into the argument and the call for reform has been made loud and clear.
Receivers could face new liabiltiy
In a decision that could have massive implications for receivers and managers, Commissioner McKenna of the Industrial Relations Commission of NSW (“NSWIRC”) has allowed receivers and managers to be joined to unfair dismissal proceedings brought by a former employee of a company under external administration.
To view this publication in full, please click on the PDF link below.
If you would like more information, please contact a member of our National Insolvency Team listed on the right hand side of the screen.
The information in this document is provided for general guidance only. It is not legal advice, and should not be used as a substitute for consultation with professional legal or other advisors. No warranty is given to the correctness of the information contained in this document, or its suitability for use by you. To the fullest extent permitted by law, no liability is accepted by DibbsBarker for any statement or opinion, or for an error or omission or for any loss or damage suffered as a result of reliance on or use by any person of any material in the document. This publication is copyright. Apart from any use as permitted under the Copyright Act 1968, it may only be reproduced for internal business purposes, and may not otherwise be copied, adapted, amended, published, communicated or otherwise made available to third parties, in whole or in part, in any form or by any means, without the prior written consent of DibbsBarker.
Insolvency news
|
Author: Wendy Jacobs | Partner, Mark Addison | Partner and Noella Collingridge | Associate | Sydney
|
|
Recent Publications
17 May 2013
A recent DibbsBarker article published in Proctor explains in some depth the written/mandatory final offer regimes for various personal injuries matters at the pre-proceedings stage and their interplay with the Uniform Civil Procedure Rules 1999 (Qld).
10 May 2013
Receivers and mortgagees are well-versed as to the statutory duty of sale enshrined in section 420A of the Corporations Act, but what of the duties owed by a liquidator when undertaking asset sales?
01 May 2013
Many businesses have made funding decisions on the NSW Government's commitment that mortgage duty would finally be abolished on 1 July 2013, but it seems that it may be in place for at least another two years.
|
