Heads up #2 – Two other insolvency law appeals before the Courts

Two other insolvency law appeals have just been heard.

Today, a Full Federal Court bench of their Honours Jessup, Robertson and White JJ heard ASIC’s appeal from the decision in ASIC v Franklin (liquidator), in the matter of Walton Construction PL (in liq) [2014] FCA 68. At first instance, her Honour Davies J had refused an application by ASIC for the removal of liquidators because of an apprehension of a lack of independence and impartiality, brought under s 503 of the Corporations Act 2001 (Cth). ASIC had also claimed that the DIRRI (declaration of relevant relationships) made by the liquidators upon their appointment as administrators was deficient, and had sought a declaration that they had contravened s 436DA of the Act. This appeal decision is likely to be instructive, and worth looking out for. I wrote an analysis of the first instance decision and the then upcoming appeal in March of this year – link.

And on Friday, a Victorian Court of Appeal bench of their Honours Ashley, Neave and Almond JJA heard the directors’ appeal from the decision in Le Roi Homestyle Cookies Pty Ltd (in liquidation) v Gemmell [2013] VSC 452. This is an appeal from an interesting decision her Honour Ferguson J handed down in August last year. It concerned public examinations of directors for potential insolvent trading claims – including de facto and shadow directors – and the consequences of those individuals failing properly to maintain their privilege against self-incrimination for criminal or penalty proceedings. I wrote an analysis of that decision also, which may be read here.

I will endeavour to inform you when the appeal decisions are handed down.

One thought on “Heads up #2 – Two other insolvency law appeals before the Courts

  1. Pingback: Heads up #2 – Two other insolvency law appeals before the Courts | Australian Law Blogs

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