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Monthly Archives: April 2011

Lehman, the League and the Level Playing Field

On Sunday night I watched the docu-drama, The Last Days of Lehman Brothers. On Monday I watched my customary dose of English Premier League Highlights. How are these things connected? A Lehman Brothers case currently before the new English Supreme Court (formerly House of Lords) may have a crucial impact on the future of the [...]

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Upcoming Seminar: Aftermath: Insolvency law responses to the GFC

The Bankruptcy and Insolvency Law Scholarship Unit (BILS) is proud to present its inaugural seminar: Aftermath: Insolvency law responses to the GFC. DATE Monday, 9 May TIME 12:30 – 1:45pm VENUE Henry Basten room, Level 1, Mitchell Building, University of Adelaide, North Terrace RSVP Wednesday, 4 May Click here to register your attendance online A [...]

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The Insolvent Insolvency Practitioner

It has recently been reported (see ASIC website) that Melbourne liquidator Paul Pattison has voluntarily resigned as a liquidator or administrator to over 80 companies as he is himself insolvent. He has given an undertaking that he will not accept further appointments until he can produce evidence that demonstrates that he has the practice and [...]

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Wither the fruits of preference claims?

Cook v Italiano Family Fruit Company Pty Ltd. (In Liq), 6/12/10, Melbourne, FCA Do preference recoveries by a liquidator belong to unsecured creditors, or do they fall under a bank’s charge over present and future property? Under s561, statutory priorities should only be paid out of floating charge realisations ‘so far as the property [...]

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Harris Scarfe, Chicago Boot

Dwyer and others v Chicago Boot Co Pty Ltd.,1 March 2011, Sulan J [2011]SASC 27 It seems appropriate to kick off our new Blog close to home, with a judgment from Adelaide. In  the long-running Harris Scarfe liquidation, the liquidators challenged payment to a supplier. The supplier argued that (a) the company could [...]

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It could only happen in America..surely? The Australian’s Wall Street Journal pages (30/3/11) reports that the Minnesota Attorney-General has accused the nation’s largest publicly traded debt-buying firm by revenue, of filing ‘robo-signed’ affidavits to collect debts from individual residents. Sloppy and fraudulent documents were used in many cases, in context of 15000 lawsuits collecting $US [...]

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