Corporate Insolvency Essentials
Don’t be stumped by questions of corporate insolvency. Spend the afternoon with a panel of insolvency experts as they delve into the latest developments in corporate insolvency. Gain a fresh understanding of insolvent trading, creditor defeating dispositions, unreasonable related transactions, voidable transactions, and unfair preferences. Learn how you can avoid your clients making common mistakes that can often have disastrous results. WEB233N49Z
Description
Attend and earn 4 CPD units in Substantive Law
This program is applicable to practitioners from all States & Territories
Chair: Colin Brown, Partner, O’Neill Partners
1.00pm to 1.05pm Opening Comments by the Chair
1.05pm to 1.50pm Insolvent Trading Overview: Consequences and Options
- Insolvent trading: how it is defined and options available
- Directors’ liabilities:
- Overview of their duties and impact of personal guarantee
- What are the options for them: Bankruptcy /Part X Arrangements
- Voluntary Administration, Deed of Company Arrangement
- Options for the insolvent entity
- Small business restructuring
- Voluntary Administration
- Deed of Company Arrangement and interaction with insolvent trading provisions
Presented by Matt Mullen, Director, Financial Advisory and Restructuring Advisory, Grant Thornton
1.50pm to 2.40pm Creditor Defeating Dispositions and Unreasonable Director Related Transactions
- Legislative changes ushered in by the Treasury Laws Amendment (Combatting illegal Phoenixing) Act 2020 (Cth)
- The two limbs of s588FDB of the Corporations Act 2001
- Distinguishing between legal and illegal phoenixing
- A review of Intellicomms Pty Ltd (in liquidation) [2022] VSC 228 and recent cases
Presented by Stacy Miller, Partner, Cronin Miller Litigation
2.40pm to 2.50pm Break
2.50pm to 3.35pm Other Voidable Transactions and Other Property Claims in Insolvent Situations
- Voidable transaction provisions
- When is superannuation not protected in bankruptcy?
- Claims against assets not in the company/bankrupt’s name
- Constructive/resulting trust claims
- Commercial settlements of voidable transactions
Presented by Alice Ruhe, Partner, SMB Advisory; Registered Trustee in Bankruptcy and a Registered & Official Liquidator
3.35pm to 4.20pm Unfair Preferences and Defences
- Position under the standard liquidation
- Changes under the simplified liquidation reform: s588FA and s588FE
- Payments by third parties to an unsecured creditor
- Defences
- Running account defence
- Ultimate effect
- Good Faith
Presented by Marc Rossi, Partner, Mills Oakley
4.20pm to 5.15pm Expert Q&A Session: Common Mistakes Made When Dealing with Corporate Insolvency
Gain insights on how you might assist your clients to avoid some common and yet crucial mistakes when dealing with corporate insolvency
- What to look for at the first meeting? What to ask your client when they walk in the door?
- What should they say to the creditors? common traps
- What are the different options available to your client
- Consequences of the company going into liquidation
- What does a statement of demand mean? When and why, they should respond?
- Director penalty notices: why they should not be ignored
Facilitator:
Colin Brown, Partner, O’Neill Partners
Panellists:
Stacy Miller, Partner, Cronin Miller
Matt Mullen, Director, Grant Thornton
Alice Ruhe, Partner, SMB Advisory; Registered Trustee in Bankruptcy and a Registered & Official Liquidator
Daniel Johnston, Legal Practitioner Director, JHK Legal
Aaron Lucan, Partner, Worrells; Registered Trustee in Bankruptcy and a Registered & Official Liquidator
Presenters
Colin Brown
Colin specializes in the areas of insolvency and reconstruction and commercial litigation. A member of the Australian Restructuring Insolvency and Turnaround Association (ARITA), Colin acts for secured and unsecured creditors, commercial entities, administrators, liquidators, bankruptcy trustees and other insolvency practitioners across a range of industry sectors, as well as advising individuals, boards and company directors on all aspects of insolvency law. Colin also acts for private and corporate clients involved in a broad range of commercial disputes, particularly in respect of contractual and commercial transaction, resolving a number of large and complex commercial disputes for the firm’s clients.
Alice Ruhe
Alice has practiced in the Insolvency and Corporate Recovery Industry for over 15 years and is a Registered Trustee in Bankruptcy and a Registered Liquidator. Alice is a member of both the Chartered Accountants Australia and New Zealand and the Australian Restructuring Insolvency and Turnaround Association (ARITA) and has experience in all forms of corporate and personal insolvency administrations.
Matt Mullen
Matt is a Chartered Accountant who is currently a Director within the Financial Advisory. Recovery & Reorganization division in the Grant Thornton Australia Limited Cairns office. Matt has worked in the insolvency and restructuring professional services sector for over 16 years in both Australia and the United Kingdom which has allowed him to gain invaluable experience across a wide range of engagements. Matt's role with Grant Thornton Australia Limited offers him the opportunity to work in both the personal and corporate insolvency areas including all types of formal engagements.
Stacy Miller
Stacy Miller has practiced exclusively in the areas of commercial litigation, insolvency, debt recovery and dispute resolution since her commencement of practice in Queensland in 2003. She has been a partner of the Gold Coast based specialist commercial litigation and insolvency firm, Cronin Miller Litigation, since 2014.
Marc Rossi
Marc is a Partner at Mills Oakley with a focus on recoveries, insolvency, restructuring, financial services, securities enforcement, LMI & title insurance, and commercial litigation and dispute resolution.
Aaron Lucan
Aaron Lucan joined Worrells in 2006 and became Partner in 2013. He is a registered liquidator, a registered trustee, and members of both Chartered Accountants Australia + New Zealand and the Australian Restructuring Insolvency & Turnaround Association. With more than twelve years’ experience in all aspects of insolvency administration, Aaron is an expert in many forms of corporate and personal insolvency including: Liquidation; Voluntary Administration; Deed of Company Arrangement; Receivership; Bankruptcy; Controlling Trustee and Personal Insolvency Agreement (Part X).