The Singapore International Commercial Court ("SICC") has handed down its first insolvency-related ruling. The court granted recognition and full force and effect to Indonesia's flagship airline's restructuring plan. That...more
3/28/2024
/ Airlines ,
Aviation Industry ,
Bankruptcy Code ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Cross-Border ,
Indonesia ,
Insolvency ,
Restructuring ,
Singapore ,
Singapore International Commercial Court ,
Transportation Industry ,
UNCITRAL
In Short -
The Situation: When winding up a company, liquidators must distribute any surplus funds following the satisfaction of any secured debts. The Corporations Act 2001 (Cth) contains a regime which provides that...more
The construction sector in Australia has long been affected by insolvency and broader liquidity issues. In the last year, construction companies accounted for 26% of businesses that entered into insolvency, and insolvencies...more
A Refresher: Running Account Defence and Peak Indebtedness Rule -
The Full Court's decision was an appeal from a first instance judgment, in which the liquidators for Gunns Limited ("Gunns") successfully argued that 11...more
During the better part of 2020, the federal government has injected an unprecedented level of stimulus into the Australian economy in an attempt to mitigate the economic impact of COVID-19. As a result, despite a significant...more
10/15/2020
/ Australia ,
Bankruptcy Reform ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Creditors ,
Debt Restructuring ,
Insolvency ,
Landlords ,
New Rules ,
Relief Measures ,
Small Business
The Situation: Should liquidators be personally liable for the costs of unsuccessful appeals, without an entitlement to reimbursement by the company or its creditors in relation to those costs?
The Conclusion: The general...more
The Situation: Should liquidators be removed under section 90-15 of the Insolvency Practice Schedule (Corporations) in circumstances where they engaged in preappointment discussions with a secured creditor, allegedly failed...more