News

The importance of getting it right at every stage of the personal Insolvency process.

13 May 2020

‘Measure twice, cut once’ – The importance of getting it right at every stage of the personal insolvency process. On 29 April 2020, the Honourable Justice Lee in Metledge v Hopkins [2020] FCA 561 dismissed a petition for bankruptcy due to a defect in the bankruptcy notice. This judgment highlights the importance of getting it…

New Anti-Phoenixing Provisions Introduced by Commonwealth Parliament

By Krisha Reddy, Law Clerk and Alicia Hill, Principal, MST Lawyers On 17 February 2020 the new Treasury Law Amendments (Combating Illegal Phoenixing) Act 2020 (Cth) (Act) was given royal assent. The Act amends the Corporations Act 2001 (Cth) (Corporations Act) and various GST and Tax Acts to increase the level of accountability of company…

Discussion Paper Flags Issues in Insolvency Sector

Discussion Paper Flags Issues in Insolvency Sector By Maxim Oppy, Law Clerk and Alicia Hill, Principal, MST Lawyers   The Australian insolvency sector is again being scrutinised as the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) carries out their Insolvency Practices Inquiry (Inquiry) to investigate insolvency practices in relation to small businesses. The Inquiry…

Assignments Between Family Members: An Issue For Insolvency Practitioners

The Supreme Court of Victoria’s decision in AAD Services Pty Ltd (in liq) v ALD Wholesale Pty Ltd and Ors (No 3) [2019] VSC 546 highlights the issues that insolvency practitioners can face in regards to recouping funds. On these facts, an assignment created between family members had legal operation and meant that the trustee in bankruptcy was unable to access proceeds of judgment.