Phoenix Companies – What Are They, Are They Legal and What is Being Done About Them?

What is phoenixing? There is currently no express prohibition, proscribed under Australian law, from carrying out "phoenix activity". Australian law also does not define "phoenix activity". Such 'activity' can be broadly summarised as the exploitation of the corporate form to the detriment of unsecured creditors when directo...

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Date posted: 2017-10-18 | Comments(0)


Assignment of "Rights to Sue"

1 March 2017 saw changes brought by the Insolvency Law Reform Act 2016 (Cth) come into effect, ultimately extending the powers given to insolvency practitioners to be able to assign statutory causes of action that they have not been able to previously assign. These new provisions (each respectively, s 100-5 of Schedule 2 of the ...

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Date posted: 2017-09-01 | Comments(0)


Are your small business contract terms void?

In October 2016, we notified you that the Australian Competition and Consumer Commission ("ACCC") would be introducing changes to laws governing unfair contract terms to benefit small businesses. On 11 No...

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Date posted: 2017-09-01 | Comments(0)


Promotion Announcement - Daniel Rappoport

Gavin Parsons and Associates are very proud to announce the promotion of Daniel Rappoport to the position of Senior Associate. This promotion is in recognition of Daniel’s unique skills, knowledge and experience in all areas of his practice, his ongoing care and attention to our clients’ needs and his contributions to improve and expa...

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Date posted: 2017-08-30 | Comments(0)


Headlines from the Australian Restructuring Insolvency & Turnaround Association (ARITA) NSW/ACT divisional conference

This year’s conference was full of interesting hot topics. Here are a few of the highlights and our take on the comments made by the regulatory bodies. Part X Mark Findlay (Director in Regulation & Enforcement, AFSA) commented that the changes to the definition of a special resolution under the proposed Insol...

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Date posted: 2016-11-16 | Comments(0)


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