Mondaq Asia Pacific: Insolvency/Bankruptcy, Re-structuring
Corrs Chambers Westgarth
The Bankruptcy Act 1966 (Cth) has priority over the FDM Act where the requirements of section 5 of the FDM Act are met.
ClarkeKann Lawyers
KordaMentha claims that four gas turbines are subject to ANZ's security interest and may be sold to recover the ANZ debt.
The Bill aims to cap entitlements payable by the Government to employees, redundant due to liquidation or bankruptcy.
Kemp Strang Lawyers
In response to this case, ARITA has recently amended the Code of Professional Practice for Insolvency Practitioners.
Corrs Chambers Westgarth
As long as proceedings are instituted for bona fide relief claimed and are not doomed then there is no abuse of process.
Clyde & Co
Hainan PO Shipping was established by Hainan State-owned Assets Supervision and Administration Commission in 2009.
Mayer Brown JSM
Did you know that a liquidator of a foreign company may seek the assistance of the Hong Kong Court to obtain orders for the production of information.
Shine Wing
This article highlights the key provisions in this 2nd Interpretation and the distinction between this Interpretation and the relevant Hong Kong insolvency provisions.
Tanner De Witt
This update considers recent cases that clarify the statutory structure applying to a provisional liquidator’s remuneration.
Tanner De Witt
An unfair preference claim is a powerful tool for liquidators to recover assets of the company when a creditor’s position has been unfairly improved by the company prior to its winding up.
Tanner De Witt
The May 2010 decision of Harris J in Re Cyberworks Audio Video Technology Ltd [2010] caused some excitement among the insolvency community in Hong Kong.
Mayer Brown JSM
On a recent Mayer Brown JSM application (on behalf of the Liquidators of one of the Lehman Brothers entities) to reduce and expunge proofs of debt, the Hong Kong High Court has ruled that creditors who receive an overpayment of dividends due in respect of a proof of debt which has been "improperly admitted" (rule 96, Companies Winding-Up Rules) must give credit for those overpayments before receiving further dividends in the liquidation (Re Lehman Brothers Commercial Corp Asia Ltd ("LBCCA") [20
Mayer Brown JSM
Following our previous legal update on substituted service of a statutory demand against an individual, the Court of Appeal’s recent decision in "FWD Life Insurance Co (Bermuda) Ltd v. Chan Kim Fai" sheds light on the requirement of Rule 59 of the Bankruptcy Rules for substituted service of a bankruptcy petition.
MNK Law Offices
One of the mechanisms employed to hedge investment risks in a private equity transaction is that of a liquidation preference.
Nishith Desai Associates
A foreign decree has to satisfy the test prescribed by Section 13 of the CPC for it to be conclusive and executed in India.
Chapman Tripp
As New Zealand inches toward a more regulated insolvency regime, Australian court decisions may become more relevant here.
Chapman Tripp
We dust off the crystal ball and look ahead to what we expect will be the 'big five' insolvency issues.
Chapman Tripp
Liquidators should continue to use the section 295 procedure to recover insolvent transactions that have been set aside.
Chapman Tripp
A recent NZ High Court decision confirmed that receivers are not personally liable to pay body corporate levies.
Wynn Williams Lawyers
Discussion of the decision in Damien Grant and Stephen Khov v Lotus Gardens Limited [2014] NZCA 127.
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Singh & Associates
Section 530 under the Chapter V of Part VII of the Companies Act, 1956 provides for the sequence of the payments which shall be made in the course of winding up of a company.
Norton Rose Fulbright Australia
Australian companies with a global presence can choose the location where they wish to start an insolvency proceeding.
Corrs Chambers Westgarth
A court can order the termination of a deed of company arrangement (DOCA) proposal if it suspects "phoenix activity".
Boss Lawyers
The High Court considered the competing entitlements of a liquidator and a secured creditor to the proceeds of a claim.
Nishith Desai Associates
A foreign decree has to satisfy the test prescribed by Section 13 of the CPC for it to be conclusive and executed in India.
CBP Lawyers
Liquidation or winding-up is the process when a company's assets are liquidated and a company is closed or deregistered,.
Norton Rose Fulbright Australia
This recent judgment helpfully illustrates the operation of a priority application in relation to reinsurance proceeds.
Corrs Chambers Westgarth
The process in Part 5.4 of the Act must be strictly adhered to, if taking advantage of the presumption of insolvency.
The recent Financial Systems Inquiry (FSI) Interim Report suggests that Chapter 11 would not be beneficial to Australia.
K&L Gates
Receivers need to ensure sufficient assets in the company can meet unsecured priority claims, including employee claims.
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