A decision of the Victorian Court of Appeal in Vasudevan v Becon Constructions (Australia) Pty Ltd [2014] VSCA 14 has the potential to significantly broaden the power of a liquidator ...
A decision of the Victorian Court of Appeal in Vasudevan v Becon Constructions (Australia) Pty Ltd [2014] VSCA 14 has the potential to significantly broaden the power of a liquidator to attack a company transaction under section 588FDA of the Corporations Act 2001 (Act) where there are ‘indirect benefits’ to
On 10 September 2014, the High Court of Australia delivered its decision in Maxwell v Highway Hauliers Pty Ltd [2014] HCA 33, dismissing an appeal against the decision of the Western Australian Court of Appeal, overturning the decision in Johnson v Triple C Furniture & Electrical [2010] QCA 282 and
Whether your foreign judgment can be enforced in Australia will depend on the type of judgment and the country where the judgment is obtained. The Foreign Judgments Act 1991 (Cth) (FJA) enables foreign judgments from prescribed courts in specified countries to be registered under the FJA in Australia.
The ATO has many enforcement measures it can use for the collection of tax-related liabilities from a company. These include director penalty notices, garnishee notices and freezing orders. When a taxpayer has defaulted on a lodgement obligation, the ATO can make an assessment of the overdue obligation.
The recent Queensland Court of Appeal decision of Michail v Australian Alliance Insurance Company Ltd [2014] QCA 138 reinforces that clear and consistent underwriting guidelines are essential for all insurance agencies.
Deficient advertising is not saved by the information memorandum. In a recent case involving a rural property in Queensland, the mortgagee failed to comply with its duty to take reasonable steps to obtain market value because the mortgagee’s advertising did not adequately refer to the water rights relating to the
Until recently, there has been an unresolved issue as to whether a mortgagee in possession is liable to pay the recovery costs incurred by the body corporate in attempting to recover outstanding levies from the mortgagor.
Secured creditors should remember that submitting a proof of debt and voting in a liquidation may result in the loss of their security if they get it wrong.
There are dangers in contributing part of the purchase price and not being recorded as a registered owner on the title
Secured creditor recovers payment of statutory employee entitlements from liquidator in priority to unsecured creditors
Failing to comply with a statutory demand could result in a company being wound up.
Liquidators are commonly appointed to a company where, prior to liquidation the company was a trustee of a trust. Often when the liquidators are appointed, the company has ceased to be the trustee and a replacement trustee has not been appointed.
Cooper Grace Ward acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Fast, accurate and flexible entities including companies, self-managed superannuation funds and trusts.