Enforcement Actions: Corporate and Personal Insolvency

“ASIC’s latest insolvency data for the nine-month period from 1 July 2023 to 31 March 2024, released today shows an increase in the number of Australian companies failing.”
ASIC Media Release 18 April 2024

“Personal insolvencies increased in April 2024, according to new provisional monthly statistics released today by the Australian Financial Security Authority (AFSA). In April 2024, there were 1,046 new personal insolvencies - rising from 980 in March 2024.”
AFSA Personal Insolvencies Report April 2024

Given the current financial climate, the rise in personal and corporate insolvencies is likely to continue. It’s now time to master some key insolvency enforcement actions when pursuing judgements against individuals and companies. Would you know how to defend against a winding-up application or creditor’s petition? Are you across the latest High Court decisions on unfair preferences and related defenses. Do know how to deal with voidable transactions and navigate dealings with debtors and creditors who are trustees of a trading trust. If you're uncertain about these questions, you might want to consider this program.

Wednesday, 4 September 2024
Early Bird Discount ends 2 Aug 2024 $353.50
Chair

Paul McQuade KC, Level Twenty Seven Chambers; Preeminent Insolvency & Restructuring Senior Counsel, Doyle’s Guide 2023

1.00pm to 2.00pm Defending & Responding to Winding Up Applications and Creditor’s Petitions

 

  • Establishing counter-claims, set-offs and cross-demands
  • Relying on the ‘for other sufficient cause’ ground pursuant to the Bankruptcy Act 1966
  • Applying for stays of winding up applications and creditor petitions
  • Raising solvency as a defence
  • Assessing the evidentiary burden on the applicants

Presented by Stacy Miller, Partner, Cronin Miller; Recommended Commercial Litigation & Dispute Resolution Lawyer, Doyle’s Guide 2023

2.00pm to 3.00pm Unfair Preferences and Defences: Peak Indebtedness Rule

 

  • What is an unfair preference claim?
  • What are the defences to an unfair preference claim?
  • The Peak Indebtedness Rule: a brief overview
  • High Court Case analysis: Bryant & Ors v Badenoch Logging Pty Ltd [2023] HCA 2
  • Implications for unfair preference claim:

Presented by Daniel Johnston, Legal Practitioner Director, JHK Legal

4.15pm to 5.15pm Clarifying Creditors Rights Against Trust Property Under Insolvency Law

 

  • Issues with identification of debtors and creditors who are trustees of a trading trust
  • Possible need to do PPSR search where ABN is for a trust
  • Use of request procedure under the PPSR where a registration exists for creditor
  • Requests for Trust documents to clarify ability to sue and why: need to check trust deed and any changes including any amendments whether that is for debtor or creditor
  • Access to trading records for indebtedness and to enable full instructions

Presented by Jim Johnson, Barrister, Frederick Jordan Chambers

Description

Attend and earn 4 CPD units in Legal Knowledge
This program is applicable to practitioners from all States & Territories

3.00pm to 3.15pm Break
3.15pm to 4.15pm Recognising and Responding to Voidable Transactions in Respect of the Recipient, Director, and the Insolvent Practitioner/Creditor

 

  • Identify the scope of voidable transactions pursuant to the Corporations Act and ss120, 121, 122 of the Bankruptcy Act
  • Avoiding them and common pitfalls for individuals and companies
  • Enforcing them and defending a voidable transaction claim

Presented by Stipe Vuleta, Managing Director, Chamberlains Law Firm

Presenters


Daniel Johnston, Legal Practitioner Director, JHK Legal
Dan is a Legal Practitioner Director at JHK Legal and has over 10 years’ experience working and assisting clients in commercial litigation, debt recovery, insolvency and employment law contentious matters. Dan has worked with clients ranging from small to medium enterprises, blue chip clients, insolvency practitioners (both corporate and personal), bankrupts, mercantile agents, creditors, debtors, employees and employers. Dan has worked on numerous matters in both Federal and State Courts including (but not limited to) resisting claims made for and against Insolvency Practitioners, Australian Consumer Law claims, summary judgement and strike out applications, and appeals in the District and Supreme Court of Queensland. Dan has practised in Queensland, South Australia, Western Australia, Tasmania, and the Northern Territory and currently holds a practicing certificate in Queensland. Dan is also admitted to the Supreme Court of Queensland and to the High Court of Australia.


Paul McQuade KC, Level Twenty Seven Chambers
The matters in which Paul is involved are factually and legally complex, and utilise the specialist knowledge he has developed from his strong track record in commercial litigation, with particular emphasis on banking and finance, competition and consumer law, corporate law, contract law, corporate and personal insolvency, equity, partnerships, property, securities and trusts disputes, and also the skills he gained as a Chartered Accountant. Chambers & Partners Asia Pacific 2017-2021 rank Paul in Band 1 for Restructuring & Insolvency. Paul is listed as a ‘Leading’ Australian QC and a ‘preeminent’ Queensland QC for Insolvency and a ‘recommended’ Queensland QC for Commercial Litigation & Disputes by Doyle’s Guide 2015-2020. He is also listed in the Australian Financial Review’s Best Lawyers 2017-2020 for Insolvency and Reorganisation.


Stacy Miller, Partner, Cronin 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. Prior to private practice, her interest in insolvency was sparked during her tenure as a legal officer at the Federal Attorney General’s department in a small team put together specifically to provide assistance to those appearing before the Royal Commission into the collapse of HIH Insurance. Subsequently she practiced in specialist commercial litigation and insolvency firms in Brisbane, before joining the team at Cronin Litigation Lawyers (as it then was) in 2011. A highly regarded litigator with notable success in factually complex high end litigation cases, her expertise includes trade practices actions, contractual disputes, shareholder and partnership disputes, estate litigation, realising and enforcing securities and general commercial disputes for direct industry clients and professional firms such as accountants and liquidators.


Stipe Vuleta, Managing Director, Chamberlains Law Firm
Leading Canberra Litigation, Insolvency & Reconstruction lawyer at Chamberlains Law Firm. A depth of experience from the traditional Legal and emerging Legal Technology sectors with Top Tier, Boutique and Online Expertise. Providing practical and commercial solutions to complex legal problems at all stages of the corporate and personal financial life cycle. Regular presenter on Insolvency, Building and Construction. Author and contributor to various Print & Online Publications.


Jim Johnson, Barrister, Frederick Jordan Chambers
Jim Johnson was admitted to the Bar in August 1991 having practised as a solicitor since 1975. He is currently also a casual lecturer at UTS in the insolvency elective. Jim has lectured extensively in relation to insolvency topics over the last 20 years including interrelationship and crossover between deceased Estates and bankruptcy and family law and bankruptcy. Whilst his practice is generally regarded as personal and corporate insolvency that brings into play most areas of general commercial securities and conveyancing practice.

WEB249Q04

Enforcement Actions: Corporate and Personal Insolvency

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Single Session
Wednesday, 4 September 2024
1.00pm to 5.15pm Australia/Brisbane
CPD Points 4
$505.00
$505.00
Early Bird Discount ends 2 Aug 2024 $353.50
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