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Commercial

CommercialInsolvencyLitigation
8 March, 2024

Personal Liability of Administrators

The personal liability arising under Division 9 of Part 5.3 A of the Corporations Act 2001 (Cth) (Act) often provides one of the greatest risks facing administrators on accepting an appointment. These risks can limit restructuring options available through a voluntary administration as an administrator is unlikely to want to…
BuildingCommercialConstructionInsolvencySecurity of Payments
1 December, 2023

Using DOCAS To Preserve SOPA Claims In Administrations?

Commercial Context Construction companies are often thinly capitalised and do not hold significant real property or other assets.  Often their most significant (and sometimes their only) assets are unpaid progress claims arising from construction work undertaken prior to entering into external administration. Progress claims however can be difficult to recover.…
CommercialInsolvency
6 November, 2023

The PJC’s Corporate Insolvency Report

On 12 July 2023, the Parliamentary Joint Committee on Corporations and Financial Services (PJC) released a comprehensive report on corporate insolvency in Australia. This report made 28 recommendations focused on addressing various issues in the current Australian corporate insolvency space and raised some issues in the personal insolvency sector. The…