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Court of Appeal upholds scheme classes decision in Boart Longyear restructuring
Herbert Smith Freehills share their article with us. Legal Briefings – By Paul Apáthy and Andrew Rich The New South Wales Court of Appeal has, in a decision that has surprised many practitioners, dismissed an appeal which challenged the composition of classes in the creditors’ scheme of arrangement involving Boart Longyear Limited.1 The background […]
Safe harbour and Ipso facto clauses Law Reform: Bill introduced into Parliament
Ashurst share their article with us: What you need to know On 1 June 2017, the Government introduced the Treasury Laws Amendment (2017 Enterprise Incentives No. 2 Bill) 2017 (the Bill) into the Commonwealth Parliament. The Bill contains two major reforms to Australia’s insolvency laws: – a new safe harbour from civil liability for […]
The Australian Financial Review Interview: Federal Treasury to fast-track rules to save struggling companies
The Australian Financial Review published an article on page 6 last week, which positions the TMA and AVCAL as two key industry supporters backing the proposed Safe Harbour provisions which form part of the Federal Government’s innovation agenda. National Board director, Marcus Derwin, speaks on behalf of the TMA: “We want to keep the growth […]
No new way for a company to go bust but the signs of default existed long before its demise
KPMG share their article with us. Author: Carl Gunther, NSW Head of Restructuring and National Turnaround Lead, KPMG. Most experts when asked about why a company went broke or defaulted will respond with a collection of good logical reasons specific to the matter. In fact, insolvency practitioners are required to report this as part of […]