In the wake of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the Federal Government has announced it will crack down on penalties for corporate misconduct. In doing so, it has accepted the majority of recommendations made by the Senate Economics References Committee and the Australian Securities and Investments Commission […]
In the recent case of Stone v Melrose Cranes & Rigging Pty Ltd, in the matter of Cardinal Project Services Pty Ltd (in liq) (No 2) the Federal Court was required to determine whether a set-off was available to Melrose Cranes, pursuant to s 553C of the Corporations Act 2001 (Cth). Here, the liquidators of CPS submitted that […]
White, in the matter of Mossgreen Pty Ltd (Administrators Appointed) v Robertson  FCAFC 63 In December 2017 administrators were appointed to Mossgreen Pty Ltd, a well-known Australian auction house and gallery. The administrators sought to recover over $1 million in costs from consignors by charging $353.20 per lot for the return of goods. In some instances this […]
Linville Holdings Pty Ltd v Fraser Coast Regional Council (No 2)  QSC 62 On the 6 November 2017, Jackson J of Brisbane’s Supreme Court handed down his decision in the matter of Linville Holdings Pty Ltd v Fraser Coast Regional Council  QSC 252. Ultimately, his Honour concluded that for each of the financial […]
Deputy Commissioner of Taxation, in the matter of Tank Sales Sydney Pty Ltd v Tank Sales Sydney Pty Ltd  FCA 449 (3 April 2018) On 25 August 2017, the Deputy Commissioner of Taxation (DCT) filed an application to wind up Tank Sales Sydney Pty Ltd following the company’s failure to comply with a statutory […]
On March 28, the Federal Government introduced the Treasury Laws Amendment (Enhancing ASIC’s Capabilities) Bill into Parliament, following recommendations of the Financial System Inquiry and the ASIC Capability Review. The Bill seeks to amend the Australian Securities and Investments Commission Act 2001 (“ASIC Act”) enabling ASIC to operate with greater flexibility and consider competition in […]
Longley & Ors v Chief Executive, Department of Environment and Heritage Protection & Anor; Longley & Ors v Chief Executive, Department of Environment and Heritage Protection  QCA 32. Background Prior to its winding up, Linc Energy Limited (in liq) (Linc) had owned and operated an underground coal gasification project near Chinchilla. A necessity of […]
Last month the Federal Court handed down their decision in the case of Szepesvary v Weston (Trustee), in the matter of Szepesvary (Bankrupt) (No 2)  FCA 87. The case considered an application by Szepesvary to annul bankruptcy pursuant to s153B of the Bankruptcy Act 1966 and to set aside the bankruptcy notice upon which […]
Last October the Federal Court of Australia handed down their decision in the matter of Australian Competition and Consumer Commission v JJ Richards & Sons Pty Ltd. The case centered on JJ Richards standard form contracts, with the ACCC alleging the contracts contained unfair terms.
What is a debt dispute? Debt disputes exist where an individual disagrees with another person, business or company about a specified sum, valued up to and including $25 000.