News & Analysis as of

Ipso Facto Clauses Australia

Warning: Ipso Facto Ahead

by DLA Piper on

The new ipso facto amendments* will apply to all contracts entered into after 1 July 2018 and will place a stay on the enforcement of ipso facto clauses where a counterparty enters voluntary administration, receivership or a...more

Consultation Process on Ipso Facto Insolvency Regulations Begins

by K&L Gates LLP on

In September 2017, the Australian government introduced the most significant reforms to Australia's insolvency regime for the past 30 years with the enactment of the Treasury Laws Amendment (2017 Enterprise Incentives No. 2)...more

Navigating the Insolvency Reforms - Impending Changes to Contractual Termination Rights

by K&L Gates LLP on

Last year the government introduced the most significant reforms to Australia's insolvency regime for over three decades. Among other changes, reforms that will come into effect on 1 July this year (or earlier by...more

Australia: phoenixing reform rising beyond the safe harbour

by DLA Piper on

Australian insolvency law reform is gaining momentum. In September 2017, we saw the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 receive royal assent, introducing a new safe harbour for directors who...more

November 2017: Asia-Pacific Litigation Update

Safe Harbors in, Ipso Facto Clauses out: A (Long Overdue) Shake Up of Australian Insolvency Laws. The federal government has this month passed a suite of insolvency reforms with the consequence of significantly elevating the...more

Reform Comes to Australian Restructuring and Insolvency Law

by Morgan Lewis on

Two key changes made to Australian insolvency law enhance restructuring efforts in Australia and could improve outcomes for US investors. ...more

Safe harbour reform in Australia: Update

by DLA Piper on

The Senate Economics Legislation Committee has strongly recommended that the Australian Parliament pass the reforms to Australia's safe harbour and ipso facto regime currently before the Senate. As the reforms have already...more

Safe harbour and ipso facto reform in Australia

by DLA Piper on

Long-awaited law reform to bring Australia's insolvency regime into step with many of its trading counterparts is slated to be enacted in the second half of 2017. The text of the law is currently before parliament for debate....more

Australian Insolvency Reforms - The Harbour Appears Safer Than it Was

by K&L Gates LLP on

On 1 June 2017, the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 (Bill) was introduced to the House of Representatives. The Bill introduces amendments to the Corporations Act 2001 (Cth) (Act) that are...more

Australian insolvency law reforms aim to increase business restructuring opportunities

by DLA Piper on

The Australian government is working to significantly reform Australia’s current insolvency laws by mid-2017. The reforms are intended to achieve greater likelihood of business preservation by introducing the flexibility...more

The Harbour is Not Yet Safe – Reform on the Move in Australia

by K&L Gates LLP on

Following on from the Productivity Commission's Report on Business Set-up, Transfer and Closure, the Australian Government has issued a Proposals Paper entitled Improving bankruptcy and insolvency laws. The paper has...more

Will the Safe Harbour Ipso Facto Assist with Restructuring in Australia? - Proposed Reform to Australian Insolvency Laws

by K&L Gates LLP on

The Productivity Commission has handed down its long-awaited report on Business Set-Up, Transfer and Closure (Report) to the Australian Federal Government. Key recommendations from the Report have been embraced by the...more

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