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Whilst insolvent companies are the subject of the majority of winding ups, solvent companies can also be wound up on the initiation of its directors and shareholders (ie members). This may take place when members no longer wish to retain the current structure of the company or the company is no longer needed and not...

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We have received many enquiries from both individuals and businesses who are concerned about the inevitable breaches of contractual obligations stemming from the outbreak of the COVID-19. This article will provide general information on the law relating to this subject matter. If you are concerned that you, your business, your customers or your suppliers may...

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The Federal Circuit Court has recently dismissed a bankrupt’s application for review of sequestration orders.  See the recent case of Commonwealth Bank of Australia Ltd v Jordanou [2018] FCCA 2972. The application for review was based on the High Court’s decision in Ramsay Health Care Australia Pty Ltd v Compton (2017) 261 CLR 132.  The bankrupt tried to explain...

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In Part One of this article (Insolvency Law Reform Safe Harbour Provisions), we reviewed the amendments to the Corporations Act 2001 (Cth) introducing a safe harbour to the civil insolvency provisions.  In this Part Two, we look at the amendments which prevent suppliers and third parties from exercising termination rights using “ipso facto” clauses triggered by insolvency...