What is Illegal Phoenix Activity?

Congratulations to Holman Webb’s Workplace Relations team for their nomination as finalists for Workplace Relations and Employment Team of the Year in the Lawyers Weekly Australian Law Awards 2018

We are delighted to announce two promotions in our Brisbane office, effective from 1 July 2018:

Holman Webb is delighted to announce 8 internal promotions, effective 1 July 2018.   These promotions span our corporate and commercial, insurance, and workplace relations practices.

First published in Governance Directions, the official journal of Governance Institute and updated for the Health Law Bulletin June 2018 edition.

Despite concerns raised by liquidators and experts locally and abroad, the Federal court has confirmed its view that a set-off under section 553C of the Corporations Act can be utilised in an unfair preference claim. 

Key Takeaways:

• Insolvency legislation to create a safe harbour for directors from insolvent trading claims in certain circumstances has received royal assent.
• A director will be entitled to claim the protection of the safe harbour upon developing a course of action reasonably likely to lead to a better outcome.
• To utilise the safe harbour, a director should seek timely advice from an appropriately qualified professional.

Following our previous article, ‘Insolvency safe harbour for ‘honest’ directors’, in the June 2017 issue of the Governance Directions, the proposed safe harbour reforms have now received royal assent and have come into effect.

Congratulations to our CFO, Magdalena Kosior-Molloy who has been selected as a finalist for the CFO of the Year award in the 2017 Executive of the Year awards. 

We have an opening for a lawyer to join our Commercial Recovery & Insolvency team. This position is ideally suited to someone around 3 years’ post admission experience in commercial litigation, with some exposure to recovery and insolvency work.