Publications > Insolvency

Rostron Carlyle prepares legal articles and papers for its clients on various areas of law.
The latest publications are listed below.

Insolvency

  • Liquidators Beware – Landmark Case Narrows the Scope of Security of Payment Legislation

    The recent Victorian Court of Appeal case Façade Treatment Engineering Pty Ltd (In Liquidation) v Brookfield Multiplex Constructions Pty Ltd[1] has set an important precedent regarding the enforcement of payment claims under the Building and Construction Industry Security of Payment Act 2002 (Vic) (‘BCISP Act’). Whilst the decision is Victoria based, its > Read More

  • Insolvency Law reforms and its impact on business and directors

    The Insolvency Law Reform Act 2016 (Act) is due to commence operation on 1 March 2017 and is the first set of reforms proposed by the Australian National Innovation and Science Agenda (NISA). The Act is generally a consolidation of the current rules which govern corporate and personal insolvency, as currently split > Read More

  • Voluntary administration and directors’ guarantees

    When companies enter into contracts, loans or leases, directors of those companies are often required to provide personal guarantees. Generally speaking when a director’s guarantee is signed, and if a company is subsequently unable or unwilling to meet its commitments under the principal agreement, a creditor may pursue the director under the > Read More

  • Practical implications for liquidators of corporate trustees

    It is most common for a trust deed to include a clause providing for the automatic removal of a trustee upon the occasioning of an insolvency event by that trustee. In the case of a corporate trustee this would include the appointment of an external administrator (voluntary administrator, liquidator and/or receiver). Over > Read More

  • The importance of “unfair preferences” in the liquidation of a company

    Upon the winding up or liquidation of a company, a liquidator is charged with many obligations including both maximising the return to creditors of the company and ensuring all creditors of a similar class are treated equally. For these reasons alone, investigating possible unfair preferences and requiring a creditor who has received > Read More

  • Winding up a Company based on Shareholder disputes

    It is not uncommon in closely held private companies for there to be disputes between the shareholders which result in a complete breakdown of relationship. In such cases-what can the shareholders do to resolve the dispute? In Van Wijk (Trustee) ,in the matter of Power Infrastructure Services Pty Ltd, (214) FCA 1430, > Read More

  • Enforcing a judgment through bankruptcy proceedings

    Obtaining a judgment against your debtor does not mean you get paid immediately. The debtor may be unable or unwilling to satisfy the judgment debt for a variety of reasons. He or she may be having financial difficulties, other debts, or may be ignorant or careless of the circumstances. One of the > Read More

  • Top Priority – A Recent Decision of the Federal Court of Appeal

    From their roots in the twelfth and thirteenth centuries, mortgages have been, and remain, an important means of capital raising for individuals and companies alike. The protection offered by a registered mortgage, and the right to a priority payment upon the liquidation of the secured asset above unsecured creditors, is accepted as > Read More

  • Deeds of Company Arrangement

    Part 5.3A of the Corporations Act 2001 (Cth) was developed in 1993 upon recommendations from Australian Law Reform Commission for the need for a quick, flexible and cheap way of dealing with a company’s affairs before a prospective winding up occurs. Deeds of Company Arrangement, or DOCAs, are designed to allow a > Read More

  • Has your company been served with a Statutory Demand?

    If your company has been served with a creditors statutory demand for payment you must act with urgency, as allowing it to expire can cause irrevocable harm. The most simple way that a company can be wound up and liquidators appointed is when an application is brought after the expiry of a > Read More

  • Definition of Corporate Insolvency

    In Australia there is a ‘one size fits all’ approach to determining the definition of corporate insolvency.  The absence of a clear cut definition can lead to ramifications in the practical management of companies that are in financial distress. Section 95A of the Corporations Act 2001 (Cth), attempts to provide a statutory > Read More