In this weeks TGIF, we consider the Court of Appeals decision in Anchorage Capital Master Offshore Ltd v Sparkes [2023] NSWCA 88 and the challenges faced by lenders in accepting representations as to solvency and the financial position of borrowers. Key takeaways It is increasingly difficult to satisfy courts that a company is insolvent because…
Former British child migrants are demanding King Charles III intervene after a “disgusting” compensation offer for abuse suffered at Australia’s notorious Fairbridge farm schools. Key points: UK child migrants were told to expect 1 per cent of the value of the claims for abuse suffered at Australian farm schools Administrators wrote to creditors stating there was insufficient money to pay…
KUALA LUMPUR (May 24): The Dewan Rakyat unanimously passed amendments to the Insolvency Act 1967 via a voice vote on Wednesday (May 24). The amendments involve improvements to the Acts automatic discharge mechanism, streamlining of creditor meeting process, enabling the use of technology in bankruptcy administration, and addition of two eligible bankrupt categories to be…