PPSA has its 7 year birthday
31 January 2019 marks 7 years since the commencement of the Personal Property Securities Act (2001) (PPSA).
"Ipso facto" amendments to the Corporations Act - what does this mean and what impact does it have on your contracts from 1 July 2018?
Commercial contracts commonly include a term which permits one party to exercise certain contractual rights (including the right to terminate) if the other party is either insolvent or at the risk of becoming insolvent. Such clauses are commonly called “ipso facto” clauses.
Beyond the headlines – what does the appointment of administrators to SumoSalad entities really mean?
On 13 June 2017 the Australian Financial Review published an article titled “SumoSalad uses Insolvency Laws to fight Scentre’s Westfield”.
Another PPSR error costs a financier millions
Another financier has lost millions due to a faulty PPSR registration.
Directors beware: court imposes personal liability for employee entitlements
Directors have new cause to ensure their obligations to employees are met as a result of a recent Federal Circuit Court decision which found that a director was personally liable for employee entitlements.
New Notice Requirements to Assign Receivables
The assignment of debts is common in many transactions - from the sale of businesses to restructuring scenarios.
Assigning a debt requires written notice of the assignment being given to the debtor.
When a Secured Debt becomes Unsecured
The Corporations Act (the Act) permits a liquidator to claw back preferential payments made to an unsecured creditor within the six (6) month period prior to the winding up: section 588FA of the Act.
The High Court affirms the Liquidator's Equitable Lien
The High Court has recently affirmed the existence and scope of a liquidator’s equitable lien in Stewart v Atco Controls Pty Limited (in liquidation)  HCA 15.
Beware Parting with Possession of PPS Assets
A recent decision of the Supreme Court of Western Australia highlights the importance of properly registering security interests under the Personal Property Securities Act 2009 (Cth) (the Act).
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.