ROT clauses and the PPSA – Is possession still nine-tenths of the law?
If a seller of goods goes into liquidation in the era of the Personal Property Securities Act 2009 (Cth) (PPSA), whose interest in goods prevails in a contest between the liquidator, an unpaid supplier with retention of title (ROT) rights and a third party purchaser?
Converting the form of Liquidation – More bang for the Liquidator's buck
Early in his or her appointment a liquidator in a creditors' voluntary liquidation (CVL) should consider applying to the Court to convert the CVL to a Court ordered winding up in insolvency. Conversion may benefit the unsecured creditors, in whose interests the liquidator acts, by enabling the liquidator to pursue claims and make recoveries not available in a CVL.
The reasons liquidators have applied for conversion include:
• Obtaining the benefit of a directors' and officers' liability insurance (D&O) policy;
• Accessing recovery provisions of the Corporations Act 2001 (Cth) (Act) not available in a voluntary winding up.
Easy as ABC – Insolvency and the Relation-Back Day
The Full Court of the Federal Court of Australia has rejected an argument that the applicant for an order for a company to be wound up in insolvency must prove that the company was insolvent at the "relation-back day" in addition to proving insolvency at the date of filing the application and the date of the hearing.
Insolvency Legal Update
Welcome to the Addisons Insolvency Update for July 2012.
Recent months have brought many developments in the insolvency, corporate and financial services fields. We report on some of these.
Insolvency - Legal Update
Welcome to Addisons Insolvency Update for March 2012.
Recent months have brought a myriad of legal developments in the insolvency/restructuring field. We report on some of these.
Sales and Marketing Law - Australia - Tricks of the Trade Practices Act*
Two decisions of the Federal Court of Australia provide recent examples of business conduct that may contravene provisions of the Trade Practices Act ("TPA") and highlight for businesses certain activities which should be avoided.