Update on Corporations Law and Insolvency

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

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