Arbitration of Insolvency Disputes: The view from the Australian Courts

26 May, 2023
Two recent judgments from different Australian courts have considered circumstances in which insolvency disputes can (or cannot) be arbitrated in accordance with pre-existing arbitration agreements. In particular, the decisions address the following two key issues: when certain insolvency claims can be arbitrated; and when a third party can participate in arbitral proceedings either claiming or … Read more

Clearing up the cloud? Perhaps partly, as the Court of Final Appeal affirms the approach to dismissing bankruptcy proceedings in favour of the parties’ agreed forum

18 May, 2023
If a debt arises from a contract that contains an exclusive jurisdiction clause (EJC) in favour of a foreign court, how will the Hong Kong court deal with a bankruptcy petition based on that debt? A highly anticipated judgment from Hong Kong’s highest court suggests that the bankruptcy petition will likely be dismissed, and that … Read more

First decision on Australia’s ipso facto stay in voluntary administration

01 March, 2023
The Federal Court of Australia (Court) has handed down the first reported decision on the ipso facto stay provisions contained in the Corporations Act 2001 (Cth) (Act). In Rathner, in the matter of Citius Property Pty Ltd (Administrator Appointed) [2023] FCA 26 the Court examined the operation of the voluntary administration ipso facto stay contained … Read more

TMA submissions on corporate insolvency in Australia

08 December, 2022
Herbert Smith Freehills’ restructuring, turnaround and insolvency team has supported the Turnaround Management Association of Australia (the TMA) in preparing the TMA’s submissions (TMA Submissions) to the Parliamentary Joint Committee on Corporations and Financial Services (the Committee) for the purposes of its inquiry into corporate insolvency in Australia. Read more

Parliamentary inquiry into corporate insolvency in Australia

31 October, 2022
The Parliamentary Joint Committee on Corporations and Financial Services (the Committee) has commenced an inquiry into the “effectiveness of Australia’s corporate insolvency laws in protecting and maximising value for the benefit of all interested parties and the economy”.[1] Read more