Insolvency Reforms: for better or for worse?

On 24 September 2020, the Australian Federal Government announced what it called the most significant reforms to Australia's insolvency framework in over 30 years. "The reforms, which draw on key features from Chapter 11 of the...

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Insolvency relief to be extended to 2021

The Government has announced it will extend the temporary insolvency relief in a bid to give viable businesses the opportunity to recover from the economic crisis of 2020. The move will see the temporary relief extended until 3...

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Victorian Court of Appeal rules on third party unfair preference payments

On 5 August 2020, the Victorian Court of Appeal handed down its judgment in Cant v Mad Brothers Earthmoving Pty Ltd [2020] VSCA 198, providing clarity on the circumstances in which a third party payment may amount to an unfair pre...

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Landlords’ “Super Priority” for unpaid rent of insolvent tenants

Introduction With the full impact of Stage 4 Restrictions on Victorian businesses yet to be felt, the Federal Court of Australia decision in Ford (Administrator), in the matter of The PAS Group Limited (Administrators Appointed) ...

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Using your super powers: Why you should register your interests to obtain PMSI super priority

Introduction In March 2020, the Federal Government introduced measures to reduce financial pressure on businesses and individuals caused by COVID-19, including Job Keeper and extensions of time to comply with statutory demands a...

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Brace yourselves… ‘Director Identification Numbers’ are coming!

On 12 June 2020, the Federal Parliament passed the Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019, which establishes a lifetime registration system for company directors with the aim of combating i...

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