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The traditional winding up process is often criticised for being too slow and ineffective. In the vast majority of liquidations, there is little or no return to unsecured creditors, who only receive a dividend after the liquidator's fees and priority...

One difficulty encountered by creditors and trustees in bankruptcy is the use of one or more aliases by a bankrupt. Whether it is an innocent use of a nickname or an attempt to conceal one's identity, the use of an alias can often create problems for...

When a person becomes a bankrupt, they are legally obliged to fill out and submit a statement of affairs to their trustee in bankruptcy, for the purpose of disclosing all of the bankrupt's assets, liabilities and recent transactions. This is designed...

If a company in liquidation makes a payment to an unsecured creditor during or prior to entering into liquidation, the liquidator may flag that transaction and if necessary, seek a determination from the Court that the payment is an 'unfair preferenc...

In All Class Insurance Brokers Pty Ltd (In Liq) v Chubb Insurance Australia Ltd [2020] FCA 840, the Federal Court of Australia was asked to determine an application for security of costs. According to the Court, in considering whether an ord...

Entering into liquidation can be a scary time for any company and its officers, even one which chooses to do so voluntarily. However, the directors, shareholders and creditors of a company entering into liquidation do not have absolute discretion as ...

It is well known that a company served with a statutory demand has 21 days to comply. If the recipient fails to pay the amount of the demand (or obtain a court order extending the period for compliance) within the period of 21 days after the demand i...

Like many areas of insolvency law, statutory demands have strict procedural requirements as to the timing by which documents must be served. But how is the passage of time calculated? If something is required to be done "21 days after" a document is ...