This week’s TGIF examines the recent decision of the Federal Court in Reid, in the matter of Kununurra Panel Beating Works (Holdings) Pty Ltd Ltd (in liq) [2025] FCA 593 (Kununurra). In providing a helpful summary of the principles applicable to applications for pooling orders, the Court has also indicated that the traditionally broad scope of section 90-15 of the Insolvency Practice Schedule (Corporations) (IPSC) is not without its limitations.
Key takeaways
- Pooling orders are a handy tool available to liquidators appointed to multiple companies, allowing them to circumvent unnecessary and costly investigation into inter-company affairs and maximise payment to creditors of the companies as a whole.
- A court must refuse to make…