Can we Trust Creditors Trusts?
Some years ago it became fashionable to avoid statutory protections of the Deed of Company Arrangement provisions of Part 5.3A, by resolving to enter into a DOCA which would immediately terminate and be replaced with a trust, extinguishing creditors’ claims in the VA/DOCA procedure and replacing them with claims as beneficiaries to the like […]
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AMI -a tale of two court orders
In AMI (administrators appointed) blog we pointed out that the ACCC obtained orders against the company and its administrators requiring it to inform creditors and potential customers that the company was in administration, that it was in their opinion insolvent, and to put this fact on the AMI website. This order was obtained in Melbourne […]
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AMI (Administrators Appointed) – just in case you didn’t know!
This company has been in voluntary administration since late last year. Prior to its going into administration, the ACCC launched proceedings against it regarding its disclosure in relation to its erectile dysfunction products. Those proceedings are ongoing. Last week the ACCC obtained an interim injunction ordering the administrators to disclose that the company is in […]
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