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Under section 561 Corporations Act is the liquidator able to claim priority for remuneration, costs and expenses ahead of employee entitlements?

Under section 561 Corporations Act is the liquidator able to claim priority for remuneration, costs and expenses ahead of employee entitlements?

by accentu8 | Feb 7, 2017 | Technical Insights

In this issue: The encroachment on circulating security interests (floating charges) by section 561 Corporations Act 2001 discussed; Whether, and, if so, to what extent liquidator’s remuneration, costs and expenses may take priority under section 561 ahead of employee...
Court orders limiting the personal liability of administrators for debts arising in the course of administration

Court orders limiting the personal liability of administrators for debts arising in the course of administration

by accentu8 | Nov 23, 2016 | Technical Insights

In this issue: Consideration of statutory liability of administrators for debts incurred in course of administration Policy reasons for imposing personal liability on administrators Circumstances where it is unreasonable to expect administrators to be exposed to...
The bankrupt’s right to recover and retain damages or compensation for personal injury or wrong done to the bankrupt

The bankrupt’s right to recover and retain damages or compensation for personal injury or wrong done to the bankrupt

by accentu8 | Sep 27, 2016 | Technical Insights

In this issue: Discussion of the statutory framework that preserves a bankrupt’s right to recover and retain compensation for injury or wrongs suffered. Distinguishing actions involving property rights from those involving personal injury or wrongs suffered. Dealing...
“Flying the company blind”: Consequences arising from a failure to keep adequate books and records

“Flying the company blind”: Consequences arising from a failure to keep adequate books and records

by accentu8 | Aug 24, 2016 | Technical Insights

In this issue: The statutory obligation to keep and retain financial records reviewed The consequences for insolvency administrations where financial records are found to be deficient Director liability arising from their company’s failure to keep or retain financial...
Defending an unfair preference claim – the hybrid and objective nature of the statutory defence

Defending an unfair preference claim – the hybrid and objective nature of the statutory defence

by accentu8 | Jul 27, 2016 | Technical Insights

In this issue: The elements of the statutory defence to an unfair preference claim contained in section 588FG (2), Corporations Act reviewed. The most common elements of the defence arising for consideration are to be found in section 588FG (2)(b)(i) and (ii). With...
Liquidator seeking court directions on proposed compromise of litigation

Liquidator seeking court directions on proposed compromise of litigation

by accentu8 | Jun 3, 2016 | Technical Insights

In this issue: The use of court directions by liquidators in respect of proposed compromise of litigation Pre-conditions that need to be satisfied to enable a directions application involving compromise of litigation to proceed Legal effect of directions orders where...
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