Round-up of recent insolvency decisions

Liquidator’s remuneration trends in the New South Wales Supreme Court – In the matter of Independent Contractor Services (Aust) Pty Ltd (in liquidation) (no 2) [2016] NSWSC 106 The applicant was appointed administrator of Independent Contractor Services (“ICS”)...

Proposed insolvency reforms

Treasury issued a discussion paper on improving bankruptcy and insolvency laws in April 2016. Aside from a proposal to shorten the period of bankruptcy, the majority of discussion has been around the introduction of a safe harbour regime to allow directors to...

Liquidators’ right to sell trust assets

Over the last few years considerable uncertainty has arisen in relation to the position of a liquidator appointed to a company which operates as trustee of a trust, particularly a trading trust.  It is long established that trustees are entitled to be indemnified...