Insolvency

Safe Harbour For Directors For Insolvent Trading

Recent amendments to the Corporations Act 2001 have resulted in extra protection for company directors for trading while insolvent. This ‘safe harbour’ for directors from personal liability ultimately enables company restructures outside of a formal insolvency process. This article will set out the situation before this amendment, the relevant changes, the conditions of this change and the benefits it presents.

This article deals with civil liability as opposed to the criminal liability of directors.

Opposing An Application For The Extension Of Time To Register A Personal Property Security Interest

When managing an administration, liquidation, receivership or a trusteeship, Insolvency Practitioners face many issues and difficulties in respect of the impact of personal property security (PPS) interests on the winding up of a company.

A recent Federal Court case highlights some of the issues to be conscious of for those opposing applications to fix a later time for the registration of a PPS interest.

Changing Business Owners: Five practical considerations for business transfer

Transfer of business interests can be an area of drama and dispute. Forcing a transfer on parties unexpectedly or at a time not conducive to the exit will likely damage existing relationships and the business itself.

This article contains practical considerations for business owners faced with the pitfalls of an unplanned business interest transfer.

Cross-Border Insolvency Disputes – It’s All In The Detail

The Cross-Border Insolvency Act 2008 (Cth) (Act) has undeniably simplified international insolvency disputes. But some recent cases highlight that there might be more to the law than meets the eye. These case reports from Alicia Hill and Nicholas Yusuf cover some recent decisions and their practical impact for insolvency practitioners.