Restructuring & Insolvency

Sakr punched

Yesterday, in a unanimous 5-0 decision, the New South Wales Court of Appeal knocked out Justice Brereton’s remuneration decision in Sakr Nominees Pty Ltd [2016] NSWSC 709, the sixth in a series of controversial decisions on insolvency practitioner remuneration.

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When duty calls: Will the failure to pay mortgage duty invalidate the appointment of voluntary administrators appointed pursuant to section 436C of the Corporations Act 2001?

The recent Supreme Court of New South Wales decision of Photios v Cussen (in their capacity as joint administrators of Beechworth Land Estates Pty Ltd (admins apptd) [2015] NSWSC 336, is one of the few decisions that has considered and applied the influential 2011 decision of Katzmann J in Arnautovic & Sutherland t/as Jirsch Sutherland & Co v Civitanovic (as trustee if the bankrupt estate of Adrian Lawrence Rosee) [2011] FCA 809 (Civitanovic).

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Polytrade v Glass Recovery Services

It is trite law that a statutory demand cannot be issued where there is a genuine dispute as to the alleged debt. A recent matter in the Supreme Court of Victoria, Polytrade Pty Ltd v Glass Recovery Services Pty Ltd [2015] VSC 164, considers, amongst other things, the appropriate orders for costs when statutory demands are withdrawn (here, before proceedings were filed to set it aside). 

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