Insolvency court finds director liable for misfeasance

Background The High Court, presided over by Chief Insolvency and Companies Court Judge Briggs, recently delivered a judgment in the case of The Official Receiver, acting as liquidator for Wifime Limited (in liquidation), against Azam Iqbal Haq. The case involved allegations of breach of statutory duties by Mr Haq, who was the sole director of…

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Administrators must exercise diligence before accepting an appointment under section 436C of Corporations Act

This week’s TGIF considers the recent decision of the Federal Court of Australia in Patel v Pleash [2025] FCA 77 which held that a proposed administrator must take reasonable steps to be satisfied as to the basis of their appointment before accepting an appointment. Key takeaways Registered liquidators should exercise appropriate care and diligence in…