Category Archives: Liquidation

Federal Court finds director reasonably relied on external advice amid potential insolvency – Directors and Officers – Corporate/Commercial Law

On 6 November 2024, the Federal Court dismissed the Australian Securities and Investments Commission’s (ASIC) case against Paul Ryan, a director of Dixon Advisory & Superannuation Services Pty Limited (DASS). The case alleged that Mr Ryan had breached his directors’ duties by failing to consider the interests of DASS’ creditors when the company was approaching…

20+ Aussie craft breweries have fallen victim to craft beer’s economic crisis over past 12 months

This week, Melbourne’s Burnley Brewing has announced that it has entered into liquidation, marking a continuation of a now well-established trend that has seen more than 20 breweries enter into either voluntary administration or liquidation over the past year alone.  According to an update published to ASIC, “notice is given that at a general meeting…

Aussie fashion brand Dion Lee placed in voluntary administration

The Australian business of unisex fashion brand Dion Lee has been placed into voluntary administration, with the company’s financial status remaining undisclosed. The brand has appointed DVT Group as voluntary administrators for its Australian-based operations. Administrator Antony Resnick and his team are working to assess all options regarding the company’s US business. “We are in the very…

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To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a…

Liquidator Can Recover Amount Which Belongs To Corporate Debtor By Filing Application U/S 60(5)(c) Of IBC: NCLAT

The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan (Chairperson), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that liquidator can recover the amount of the corporate debtor by filing an application under section 60(5)(c) of the code before the NCLT as it is a matter which arises solely…

KTM takes ‘pit stop’ as it enters voluntary administration

Troubles have been brewing at KTM for most of 2024, with the company’s financial problems well documented. The Austrian company has laid off a number of staff throughout the year, including many key executives, and only a few weeks ago set off alarm bells in the Swiss stock exchange when it forecast a loss for…

Co-founder wants TuSimple liquidated – FreightWaves

TuSimple co-founder Xiaodi Hou has started a second autonomous trucking startup. But he is suing his former company, urging that TuSimple be liquidated and $450 million returned to shareholders, of whom he is the largest. Suits on 3 coasts In separate filings in courts in San Diego and Delaware, Hou claims his co-founder, Mo Chen,…