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...
On 17 August 2017, the High Court of Australia handed down its reasons in the matter of Ramsay Health Care Australia Pty Ltd v Compton [2017] HCA 28. This decision creates uncertainty in relation to the role of the bankruptcy Courts and whether they are required, in certain circumstances, to ‘go behind’ a judgment debt relied on...
The doctrine of service & defining the ‘ordinary course of post’ The doctrine of service is essentially the timing clock to which the legal process relies upon usually as its starting point. This is particularly vital when progressing a matter relies on the delivery of a document to the recipient, such as the example of...
In a judgment handed down on 23 March 2017, Robson J of the Supreme Court of Victoria considered whether assets of a company in liquidation constituted ‘property of the company’, and subsequently, whether that property was subject to the statutory priority regime as set out in section 556 of the Corporations Act 2001 (Cth) (Corporations Act). Background Amerind...
Proposed amendments to PPS Leases On 1st March 2017, Personal Property Securities Amendment (PPS Leases) Bill 2017 (Bill) was read in Parliament. The following amendments have been proposed to section 13 of the Personal Properties Securities Act 2009 (Cth) (PPSA): (1) A PPS lease means a lease or bailment of goods: (a) for a term...
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