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Our legal experts will keep you up to date on all relevant and current developments.

Abolition of the Peak Indebtedness Doctrine for Preference Claims?

The Full Court of the Federal Court recently delivered its judgment in the matter of Badenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers appointed) [2021] FCAFC 64.

The decision will undoubtedly have significant implications for the ongoing application of the peak indebtedness rule by creditors and liquidators.  


New Insolvency Regime to be Introduced From 1 January 2021

From 1 January 2021 new insolvency regimes will be introduced which will involve:

  1. a new insolvency process for small businesses whereby financially distressed but viable companies can restructure their existing debts and continue to trade; and
  2. a simplified liquidation process which will allow for faster and lower-cost liquidation.

Significant Changes to Bankruptcy Notices and Body Corporate Levy Recoveries
Monday 21 September 2020 / by Shane Roberts, Chris Hadley & Sam Marsh posted in Property Bankruptcy Notice Statutory Demand Creditors Insolvency

The temporary measures put in place by the Government in March this year which:

  1. increased the monetary threshold at which creditors can issue a Bankruptcy Notice to $20,000; and
  2. increased the time period in which a recipient of a Bankruptcy Notice has to respond to a Statutory Demand from 21 days to 6 months,

have now been extended until 31 December 2020.


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