Federal Court of Appeal Gunns down peak indebtedness rule

On 24 June 2021 the Federal Court handed down a second decision which provides further updates to this case.  Read our analysis here. Introduction In a major blow to liquidators, on 10 May 2021 the Federal Court Appeal in Baden...

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Will the Australian Tax Office escalate recovery activities?

The end of the insolvency relief measures - including the $90 billion JobKeeper wage subsidy scheme - is widely tipped to bring the biggest economic shock since the pandemic itself, leading to many unprofitable businesses closing ...

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GrowthOps’ fall from cloud nine

A recent decision of the Federal Court of Australia provides clarification of the application of the Personal Property Securities Act 2001 (Cth) (PPSA) to the sale of intellectual property by externally administered companies. ...

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Directors’ liability for insolvent trading post COVID-19 – where do I stand?

Temporary measures which relieved company directors from personal liability for insolvent trading, enacted by the Federal Government in response to the COVID-19 pandemic, ceased on 31 December 2020.  Accordingly, from 1 January 2...

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Updates to director resignation provisions under the Corporations Act

Section 203A of the Corporations Act 2001 (Cth) (a replaceable rule) provides that a director may resign by giving written notice of the resignation to the company at its registered office. For companies with a Constitution, most ...

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How can I recover a debt in 2021?

In 2020 the Federal Government introduced temporary changes which impacted some of the ways in which a creditor could recover debts owing by a debtor. With the majority of these temporary measures having come to an end on 31 De...

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