The Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 was reintroduced into Federal Parliament on 4 July 2019, after lapsing at the last election. This Bill is another example of using […]
Facilitating restructuring and turnaround of companies in financial difficulty is one of the goals of Australia’s modern corporate insolvency laws. A recent case (Walton Constructions) has highlighted some of the […]
Recent Australian decisions have applied the ultimate beneficiary test for determining who is a creditor for the purposes of voting on a creditors’ scheme that seeks to restructure corporate bonds.
I’ve recently published an article with the University of Queensland Law Journal looking at whether Australia should introduce a mechanism to cram down dissenting classes of creditors in schemes of […]
The Government’s Innovation Statement issued on 7 December 2015 adopted 3 recommendations from the Productivity Commission’s report ‘Business Set-Up, Transfer and Closure’ (released on the same day) aimed at promoting […]
One of the many discussion points in Australian insolvency circles concerns the use of pre-pack arrangements. A recent report prepared for the British parliament gives an up-to-date summary of the […]
The traditional theory of corporate debt restructuring is based on the notion that major creditors want to protect their loans and will support a restructuring plan that saves the business […]