We are regularly engaged to assist directors and shareholders who are engaged in disputes, often where there is a 50/50 deadlock, as the interests in the business are equally owned (whether as shareholders or beneficiaries of a trust). Often the...
After putting collections on hold during the depths of the COVID-19 pandemic, the Australian Taxation Office (ATO) has returned to recovering debts, including issuing Director Penalty Notices (DPN’s). However, in a recent change enacted by the ATO, directors are no...
The first meeting of creditors in an administration, although procedural, is still important. This was highlighted in the recent case of Bluechain Pty Ltd (No 2) [2021] VSC 260. Facts The Court ordered that provisional liquidators be appointed to the...
In a recent Federal Court case[1] the Court had to consider whether a liquidator was entitled to an extension of time to bring proceedings pursuant to section 588FF(1) of the Corporations Act due to COVID-19. Facts The liquidator had public...
In normal circumstances each year there are thousands of companies which end up (voluntarily or otherwise) in some form of external administration. In the middle of a pandemic, you would expect that this figure would increase. Contrary to this however,...
It is not uncommon for businesses to receive a demand from a liquidator claiming they have benefited from an uncommercial transaction however they should not be taken lightly. Recipients should immediately seek specialist legal advice as there can be serious,...
17 February, 2021
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