Repayment Arrangements - Smith vs Bone

When payment arrangements with the Australian Taxation Office will not "defer" corporate debt and restore a company to solvency - Smith v Boné [2015] FCA 319 In this recent "insolvent trading" case the director of Petrolink Pty Ltd ("Petrolink") defended the Liquidator's claim by pointing to the GFC and the payment arrangements he had neg...

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Date posted: 2015-09-07 | Comments(0)


R.I.P. WorkCover NSW

Health and safety in the workplace has a new regulator – SafeWork NSW As we say goodbye to winter for another year, we also bid farewell to WorkCover NSW ("WorkCover") and the Motor Accidents Authority ("MAA"), which have been replaced under the Insurance and Regulation Reform Package 2015. The package is designed to simplify the old s...

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Date posted: 2015-09-03 | Comments(0)


When it pays not to have a security interest

(Dura (Australia) Constructions Pty Ltd v Hue Boutique Living Pty Ltd & Ors [2014] VSCA 326)  Imagine that you have been appointed Receiver over a company which is already in liquidation. Your appointer has an all assets charge and they tell you that the company transferred a million dollars into a solicitor’s trust account only...

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Date posted: 2015-06-11 | Comments(0)


Preference Claim Action Timing

At Gavin Parsons and Associates we work hard to keep up to date with the latest developments in insolvency law and enjoy writing for insolvency publications on issues commonly faced by creditors, debtors and insolvency practitioners.  Most recently an article on preferential payments written by our Rebecca Ross in conjunction with Co...

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Date posted: 2015-05-11 | Comments(0)


From secured - to unsecured - and back to secured; can a creditor restore their unregistered security interest to its previous priority on the PPSR

Imagine you are appointed as Administrator and according to a PPS search there are no creditors with any security. You were told by the director that there probably was at least one secured creditor, but nothing is registered on the PPSR. After taking on the appointment, you hear that there was a registration at some time, but it was removed by...

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Date posted: 2015-04-09 | Comments(0)


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