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Time to change the appointment process of insolvency practitioners? CommercialInsolvency
31 January, 2025

Time to change the appointment process of insolvency practitioners?

The case of Australian Securities and Investments Commission v A One Multi Services Pty Ltd (No 3) FCA 1209 External administrators are often appointed through existing professional relationships between them and the applicants for appointment, or more accurately their solicitors. Does this practice put the duties of independence at risk?…
A reminder – what does using “reasonable endeavours” really mean? Commercial
12 December, 2024

A reminder – what does using “reasonable endeavours” really mean?

A promisor in an agreement is often required to use “reasonable endeavours” to comply with an obligation, but what does that term really mean? The key principles in Electricity Generation Corporation v Woodside Energy Ltd HCA 7 remain relevant Electricity Generation Corporation v Woodside Energy Ltd HCA 7 remains the…
When does a company “incur” a tax debt for the purposes of a claim under section 588G? CommercialInsolvency
14 May, 2024

When does a company “incur” a tax debt for the purposes of a claim under section 588G?

Section 588G of the Corporations Act 2001 (Cth) imposes a positive duty on company directors to stop a company they control from incurring a debt once it has become insolvent. Insolvent trading claims often constitute one of the easiest recoveries available in liquidation. Complexities however can arise when considering when…