A collection of news and insights about our firm and developments in the law, finance and insolvency industries

  • phoenix trading

    Pre-pack arrangements and phoenix trading for SMEs: Full journal article

    There are a number of synonyms for phoenix activity, including asset stripping, phoenix trading, illegal phoenix, and phoenix arrangements. Unfortunately, there is no statutory definition for phoenix activity in the Corporations Act 2001 (Cth) and so the terminology varies in judgments and articles. Phoenix activity occurs when: A company (we’ll call […]

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  • Phoenix company activity

    Legitimate pre-pack insolvency arrangements versus phoenix activity

    Pre-pack insolvency arrangements (pre-packs) are still relatively unorthodox in Australia, but are implemented regularly in the UK. If properly planned, pre-packs are legal and allow a business to be rescued through a quick transfer of the assets of the insolvent company. In a pre-pack the transfer of the business assets is negotiated prior to the […]

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  • What debt recovery laws would you change in NSW?

    The Australian Institute of Credit Management is seeking feedback from its members about proposals for legislative change in NSW debt recovery laws: What debt recovery laws would you change in NSW? The NSW parliament is holding an inquiry into debt recovery […]

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  • Has your equipment become a fixture? PPSR hot topic

    A dispute over a linear accelerator sounds like a James Bond movie but such dispute went to Court recently. A landlord, an equipment supplier, an administrator and bank all claimed an interest in the $9 million medical equipment and the eventual winner was the equipment supplier who sold the linear accelerator on credit. Fixtures are […]

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