Background -
During a winding up, the statutory duty of a liquidator is to gather in the estate of the company, which includes recovering any amounts owing to the company. Creditors then submit proofs of debt and receive...more
The Situation: A liquidator can reject a "double proof" for what is, in substance, the same debt as another accepted proof of debt.
The Question: When are liquidators justified in rejecting what could arguably be a double...more
The Federal Court of Australia rules that receivers appointed to a company in liquidation are entitled to pay employee entitlements and fees.
In Kirman v RWE Robinson & Sons Pty Ltd (in liq), in the matter of RWE Robinson...more
The Situation: Section 553C of the Corporations Act 2001 (WA) ("Act") provides that if a creditor and a company in liquidation have mutual dealings, the creditor must offset any sum the creditor owes to the company in...more
The Background: The administrators of an Australian auction house and gallery business applied to the Federal Court of Australia for directions to recover in excess of $1 million in fees and costs incurred with respect to...more