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Australia Creditors Corporate Restructuring

White & Case LLP

Credit Bids on the rise in Australia

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Investors in the Australian market are more sophisticated than ever and – unsurprisingly – so too are the restructuring transactions being promoted by these investors. One such transaction is the credit bid. While not a...more

White & Case LLP

Schemes of Arrangement in Australia

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A creditors' scheme of arrangement ("Scheme") can be a powerful restructuring tool implemented to achieve a variety of outcomes for a business, ranging from deleveraging or a debt-to-equity conversion to a merger and/or issue...more

K&L Gates LLP

Ding Dong – Set-Off is Gone: Absolutely Set-Off is Definitely No Longer Available as a Defence to an Unfair Preference Claim:...

K&L Gates LLP on

The High Court of Australia in Metal Manufactures Pty Limited v Morton [2023] HCA 1 has confirmed the view of the Full Court of the Federal Court of Australia that the "set off" defence under section 553C of the Corporations...more

Jones Day

Back on Top: Australian Court Affirms the "Peak Indebtedness Rule" in Unfair Preference Claims

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The Situation: When determining and quantifying unfair preference claims in Australia, does the Corporations Act permit liquidators to value transactions forming part of a single "continuous business relationship" (such as a...more

Jones Day

(Mighty) River Runs Dry: Australian High Court Rules "Holding" DOCAs Are Valid

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The Situation: The statutory moratorium period for voluntary administrators to restructure an insolvent company often is too short to find a solution. Administrators frequently utilise "holding" deeds of company arrangement...more

Jones Day

Australian Court of Appeal Approves Use of "Holding" Deed of Company Arrangement

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In Mighty River International Ltd v Hughes [2017] WASCA 152, the Western Australian Court of Appeal delivered a landmark decision approving the use of a "holding" deed of company arrangement ("DOCA")....more

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