The Federal Government has released its long-awaited draft legislation to amend the Corporations Act to introduce a ‘safe harbour’ carve out to a director’s personal liability for insolvent trading and a stay on the enforceability of certain ‘ipso facto’ clauses during an administration or scheme of arrangement. Our Restructuring + Insolvency Team dissects what the proposed changes mean for Australian businesses.
In the summer issue of Young Lawyers Journal, Banking + Infrastructure lawyer Daniel Yim wrote about the law of change - that is, the challenges and lessons arising from the trend for non-lawyers to perform services traditionally delivered by law firms.
Dominic Emmett and Jessica Arscott provide a detailed analysis of the insolvency and restructuring market in Australia, the key tools and emreging innovative processes for effecting restructures in Australia, as well as an update on the Federal Government's insolvency law reform agenda.
Justice Black has confirmed in his written reasons for judgment in Re Nexus Energy Ltd (subject to deed of company arrangement)  NSWSC 1910 (Nexus) the utility of section 444GA to achieve debt for equity restructures of listed companies.
The recent news concerning the dispute between the receivers for Forge Group Limited and APR Energy over approximately $50 million worth of gas turbines has emphasised the risks for companies involved in the equipment lease business since the introduction of the Personal Property Securities Act 2009 (Cth)
The G20 financial regulatory reforms initially approved by the IMF in 2010 are slowly being clarified and implemented by the IMF’s member governments. As expected these reforms have been controversial and subject to significant debate and lobbying.