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Australia The Corporations Act Debt Restructuring

White & Case LLP

Statutory Powers of Sale

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In 2023, we saw an increase in both voluntary administration and receivership appointments in Australia. In the context of Australia's economic climate this was unsurprising — debtor companies were grappling with volatile...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

Jones Day on

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

Jones Day on

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

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