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Insolvency
  • 01-Nov-2017 / Posted by John Forde

    What an affidavit is and how is one taken?

    An affidavit is the evidence of a witness in written form. It is a document that is sworn on oath or affirmed and made before a person who is authorised to take an oath or affirmation. An Oath is a solemn promise made in the name of God, or to some other revered deity, that statements made a..
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  • 23-Oct-2017 / Posted by Mitchell Downes

    Exciting changes to bankruptcy to promote entrepreneurial activity

    by Mitchell Downes, Partner Readers may remember the Commonwealth government previously announcing a plan to reduce the term of an ordinary bankruptcy from three years to one year. On 19 October 2017, the bill to give effect to this plan was introduced to parliament. The key features of the..
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  • 12-Sep-2017 / Posted by Mitchell Downes

    Companies and directors rejoice – "Safe Harbour" and "Ipso Facto" becomes law

    by Mitchell Downes, Partner Late last night (11 September 2017), the Senate passed into law the Treasury Laws Amendment (2017 Enterprises Incentives No 2) Bill 2017. The legislation amends the Corporations Act 2001 to create a “safe harbour” for company directors from personal liabilit..
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  • 24-Aug-2017 / Posted by Mitchell Downes

    When a judgment isn't the end

    by Mitchell Downes, Partner On 17 August 2017 in the matter of Ramsay Health Care Australia Pty Ltd v Compton [2017] HCA 28, the High Court ruled (by a 4:1 majority) that a bankruptcy court may “go behind” a judgment if the debtor raises sufficient reasons for impeaching the original debt. ..
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  • 12-Sep-2016 / Posted by No items found.

    Bankruptcy and inheritance: who gets what and what you can do about it

    by Marek Reardon - Special Counsel The potential for bankruptcy to affect a beneficiary under a deceased estate poses significant problems for inter-generational wealth planning. When a beneficiary to a deceased estate is bankrupt, their inheritance is made available to creditors to meet..
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  • 25-Aug-2016 / Posted by Mitchell Downes

    Kleenmaid director sentenced to 9 years jail

    The Kleenmaid group of companies suffered a high profile collapse in 2009. A former director of one of the Kleenmaid group of companies, Bradley Wendell Young, has been sentenced to 9 years jail this month after being found guilty by a jury of 18 offences. Remarkably, the trial ran for 71 d..
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  • 05-Aug-2016 / Posted by Mitchell Downes

    Late payment fees upheld by High Court

    On 27 July 2016 the High Court handed down the much anticipated judgment in Paciocco v Australia and New Zealand Banking Group Limited [2016] HCA 28 (Paciocco). The case considered if late payment credit card fees were penalties (and thus unenforceable at law) or were unconscionable, unjust or u..
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  • 11-Nov-2015 / Posted by Mitchell Downes

    Bluenergy: secured creditor debt extinguished by deed of company arrangement

    By Mitchell Downes – Senior Associate Deeds of company arrangement A deed of company arrangement (DOCA) is a binding arrangement between a company and its creditors governing how the company's affairs will be dealt with, which may be agreed to as a result of the company entering voluntary..
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  • 11-Nov-2015 / Posted by Mitchell Downes

    Bluenergy: secured creditor debt extinguished by deed of company arrangement

    By Mitchell Downes – Senior Associate Deeds of company arrangement A deed of company arrangement (DOCA) is a binding arrangement between a company and its creditors governing how the company's affairs will be dealt with, which may be agreed to as a result of the company entering voluntary..
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  • 19-Mar-2015 / Posted by Mitchell Downes

    Release of co-sureties

    by Mitchell Downes - Senior Associate The High Court handed down its decision in Lavin v Toppi [2015] HCA 4 on 11 February 2015. In doing so, the High Court clarified the rights between co-sureties with joint and several liability in respect of a guarantee. Facts The r..
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  • 19-Mar-2015 / Posted by Mitchell Downes

    Release of co-sureties

    by Mitchell Downes - Senior Associate The High Court handed down its decision in Lavin v Toppi [2015] HCA 4 on 11 February 2015. In doing so, the High Court clarified the rights between co-sureties with joint and several liability in respect of a guarantee. Facts The r..
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