GET IN TOUCH

Day: 19 May 2022

Commencement of proceedings against a company in administration and preservation of Bitcoin assets: Chen v Blockchain; Abel & Ors v Blockchain [2022] VSC 92 – 93

by

When a company goes into administration, section 440D of the Corporations Act 2001 (Cth) (the Corporations Act) states that no proceedings can be commenced or proceeded with against that company.
The case of Chen v Blockchain; Abel & Ors v Blockchain [2022] VSC 93 discussed the breadth of section 440D of the Corporations Act 2001 (Cth) and which parties it may apply to when the corporation is one of multiple defendants in a proceeding.

Shedding some light on shadow directors: when is an individual considered a shadow director?

by

Often when a company is established, directors will be appointed to manage the affairs and operation of the company. Throughout the existence of the company, new directors may be appointed, or some removed as required. However, issues arise where unappointed individuals begin to act like or are treated as directors without being officially appointed as such.