Oceania: Insolvency/Bankruptcy/Re-Structuring

The Queensland Court of Appeal examines whether a solicitor's equitable lien attaches to costs orders at the time they are made, determining priority rights over monies recovered through receivership proceedings. The decision clarifies the scope and enforcement of solicitors' liens in insolvency contexts.

Obtaining a court judgment is only the first step in debt recovery. When a judgment debtor fails to pay voluntarily, Queensland law provides multiple enforcement mechanisms under the Uniform Civil Procedure Rules...

Chris Bergin from Cathro & Partners speaks with Julian Heatherich, Director of Commercial Sales at Savills, about Victoria's commercial property market challenges and opportunities. With over 25 years of real estate experience, Julian examines how rising construction costs, tighter funding conditions, and reduced transaction volumes are reshaping the landscape for developers, investors, and lenders.

A company is facing a winding up application. The hearing date is approaching. Days before the hearing, voluntary administrators are appointed and the Court is asked to adjourn. For years, that strategy often bought time. Increasingly, it does not.

A recent NSW Supreme Court decision involving the LJ Hooker group examines how courts assess directors' decisions during corporate restructuring, particularly when those decisions may benefit some stakeholders over others. The case provides critical guidance on the proper purpose test, the role of insolvency risk in decision-making, and when directors can pursue personal interests without breaching their duties.

When an insolvency practitioner is appointed to a small or medium enterprise (“SME”), a consistent pattern emerges in relation to the owner’s investment in the company. In the majority of cases, the business owner has put a substantial amount of their own money into the business, typically drawn from savings, a personal loan or a redraw against the family home and that money has either been recorded as share capital or as a loan that was never documented or secured.