Month: September 2020

Catchwords: CORPORATIONS – liquidators – application for removal of – whether liquidator acted impartially and independently – where plaintiffs are the only major creditor – where plaintiffs’ claim is the subject of litigation – where liquidator valued the claim at one dollar for voting purposes – where liquidator admitted debts of the other two creditors…

Catchwords: CORPORATIONS – administration – creditors’ meeting – proxies – attendance of employees’ unions as attorneys for employees – application for orders under Corporations Act 2001 (Cth), s 447A and s 90-15 of the Insolvency Practice Schedule (Corporations) CORPORATIONS – whether it is appropriate to make orders implementing a process to allow the administrators, when…

Catchwords: CORPORATIONS – investigation by Australian Securities and Investments Commission – notice to produce books under s 33 of the Australian Securities and Investments Commission Act 2001 (Cth) – whether notice was valid – whether notice lacked sufficient clarify or was unreasonably broad – meaning of possession – whether possession included custody or control –…

National Catholic Reporter; 09/04/2020(AN 145398293); ISSN: 00278939Academic Search Complete

The Securities and Exchange Commission today charged Daniel Kamensky, co-chair of the unsecured creditors committee in the Neiman Marcus Group Ltd. LLC Chapter 11 bankruptcy proceedings, with abusing his position on the committee to attempt to benefit a… Article source: https://www.sec.gov/news/press-release/2020-203

Catchwords: CORPORATIONS – External administration – Application by liquidators for approval of remuneration – s 60-10 of the Insolvency Practice Schedule (Schedule 2 to the Corporations Act 2001 (Cth)) – Objections by majority shareholder and major creditor by value – Consideration of factors set out in s 60-12 of Practice Schedule – Whether appropriate to…

Catchwords: CORPORATIONS – members’ scheme of arrangement – application under s 411(4)(b) of the Corporations Act 2001 (Cth) – application to approve members’ scheme of arrangement to recapitalise and restructure proprietary company – application granted Article source: https://jade.io/viewArticle.html?aid=763768&pid=-1&h=1074310108

Catchwords: CORPORATIONS – External administration – Duties and powers of liquidators – Disclaimer of land by liquidators – Control of the property of a company in liquidation – Liability of liquidator to incur expenses – Meaning of ‘incur any expense’ – Whether there is ‘sufficient available property’ – Whether standing to apply to set aside…

Catchwords: EQUITY – LEGAL PRACTITIONERS – CORPORATIONS – Corporations Act 2001 (Cth) (the Act) s 553C – Solicitor’s “fruits of the action” lien over costs order made by the Court of Appeal in favour of their client against the losing party (the debtor) which solicitors argue covers their costs for acting in Court of Appeal…

Wall Street Journal – Online Edition; 09/02/2020(AN 145432630); ISSN: 25749579Academic Search Complete