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Set-Off Denied: Court Rules on Creditor's Claim in Metal Manufactures Pty Limited v Morton [2023] HCA 1
A creditor owed money in a liquidation is not entitled to set off that debt against any amount it is found to owe to the company under unfair preference provisions (and arguably other amounts payable to a company in liquidation which are recoverable pursuant to a liquidator’s statutory powers)
FinCap Online Education
Harwood Andrews is pleased to have advised FinCap Australia on the acquisition of SpotED, an online education business that sources and delivers high quality, industry-accredited online short courses for students and jobseekers, delivered via a digital portal.
Recalcitrant tenants take advantage of jurisdictional blackhole – watch this space.
As confirmed by the High Court’s decision in Burns v Corbett [2018] HCA 15, state tribunals, such as VCAT, do not have the jurisdiction to hear disputes between interstate parties.
Peak indebtedness rule abolished
Badenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers appointed) [2021] FCAFC 64 (which judgment was delivered on 10 May 2021), abolished what is known as the “peak indebtedness rule”.
Harwood Andrews Principal Appointments
Harwood Andrews has started the 2021/22 financial year by announcing the appointment of Ali Erskine and Ben Broadhead as Principal. Both Ali and Ben are part of the firm’s dispute resolution practice.
insolvency law reform
On 1 January 2021, the Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (Cth) (Amending Act) came into effect. The Amending Act is part of the government’s ongoing response to the economic impacts of COVID-19.
Temporary relief for financially distressed businesses and individuals
On 22 March 2020, the Australian Government, as part of its economic response to the Coronavirus, announced temporary relief measures for financially distressed businesses.
Harwood Andrews announces Principal Appointments
Harwood Andrews is delighted to announce that Paul Gray and Kate Morris have been promoted to Principal in their Geelong and Melbourne offices respectively.
Oppression remedies for unit trusts
It is an unfortunate fact of life that running a business will not always go smoothly, and occasionally disputes will arise between business owners and business investors. A unit trust is a popular structure for conducting a business, but it has traditionally presented business owners and investors with some difficulty when seeking to resolve their disputes.
Can a retention of title clause constitute a security interest?
In this case, the Federal Court held that including a retention of title clause in standard terms and conditions is sufficient to give rise to a security interest and provide a defence to a recovery claim by a liquidator.
Is online defamation different to print defamation?
The law of defamation traditionally relates to printed statements, such as a newspaper articles or ‘tell-all’ books. However, defamatory statements are increasingly made online and can be accessed repeatedly by readers.
Important information for apartment and unit owners
A quick guide to owners corporations
If you are an apartment or unit owner it is likely you are part of an owners corporation. As a member there are certain procedures that must be followed which you may not even be aware of. It is important that owners corporation members and committee members understand these procedures, their rights and responsibilities.
Plaintiff’s access to defendant insurance
A claimant liquidator was allowed to join the defendants’ insurer to the proceeding, in circumstances where the defendants were not going to pursue the insurance claim. This case may open up several new ways to utilise a defendant’s insurance, and Sladen Legal has some creative ways this decision can be used to plaintiffs’ benefit.
Non party’s liability for costs
The Court ordered costs against stakeholders in the plaintiff’s camp and stated that insolvency of a plaintiff insolvency weighs in favour of a cost order against a non-party supporting or directing it.