Yesterday, His Honour Justice Black addressed members of the NSW Bar with an update on Corporations Law and Insolvency Law as at April 2018. A copy of the paper is here.
The topics covered included the following:
- Directors’ duties and oppression (including judgment in the Storm Financialproceedings)
- Cases decided since the Insolvency Law Reform Act 2016 (Cth)
- Issues in liquidation of trustee companies
- Whether statutory order of priorities in section 556 of the Corporations Act apply to trust assets and trust debts on a winding up and the differing approaches taken to it in the authorities
- “Safe harbour” provisions from insolvent trading
- Stays on ipso facto clauses