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)

Pragmatism from the Victorian Supreme Court; when a transaction that elevates an unsecured creditor to a secured creditor will not be considered uncommercial

The Liquidators appointed to the company known as 640 Elizabeth Street Pty Ltd (“640”) have recently tested the boundaries of the Court’s opinion of a benefit received in connection with an uncommercial transaction. In 640 Elizabeth Street Pty Ltd (in liq) &Ors v Maxcon P...

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Date posted: 2015-04-08 | Comments(0)

Latest Legal Developments Affecting Liquidators

This article is the first of many which our firm will regularly provide to our insolvency practitioner clients. Our objective is to keep you informed of the latest case law and legislative changes in the area of insolvency law which may impact your business. Many law firms provide articles and updates in this area, but we want to conclude our articl...

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Date posted: 2015-03-23 | Comments(0)

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