JHK Legal Commerical Articles

Extension of Time for Liquidators to bring Proceedings

Posted By Belinda Melton on November 14, 2017
Extension of Time for Liquidators to bring Proceedings

The Corporations Act 2001 (Cth) (the “Act”), places time limits on when liquidators can bring voidable transaction proceedings. However, it can be difficult for liquidators to always comply with the time limits in place, particularly where they are dealing with large and complicated liquidations and extra time is required to make investigations into the company’s books and records to identify all creditors that may need to be pursued for voidable transaction claims.

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JHK Legal Newsletter – LABOUR HIRE LICENSING ACT 2017 (QLD)

Posted By admin on November 9, 2017
JHK Legal Newsletter – LABOUR HIRE LICENSING ACT 2017 (QLD)

A new labour hire licensing scheme will commence operation in 2018 pursuant to the Labour Hire Licensing Act 2017 (Qld) (‘the Act’). The scheme will apply to all labour hire providers operating in Queensland and will ban business from entering into labour hire arrangements with unlicensed providers. Labour hire providers will need to obtain a yearly, non-transferrable licence, the application and renewal fees for which will range from $1,000 to $5,000.

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Case Summary – Kite v Mooney, in the matter of Mooney’s Contractors Pty Ltd (in liq) (No 2) [2017] FCA 653

Posted By Subhaga Amarasekara on October 9, 2017
Case Summary – Kite v Mooney, in the matter of Mooney’s Contractors Pty Ltd (in liq) (No 2) [2017] FCA 653

The Federal Court of Australia has recently handed down a judgment in the case of Kite v Mooney, in the matter of Mooney’s Contractors Pty Ltd (in liq) (No 2) [2017] FCA 653 with respect to providing judicial advice to insolvency practitioners where they are appointed to an insolvent company which is the corporate trustee of a trading trust.

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Payments from head contractor may not be preferences

Posted By Sarah Jones on September 28, 2017
Payments from head contractor may not be preferences

In July 2017 the Supreme Court of New South Wales handed down the decision in in the matter of Evolvebuilt Pty Ltd [2017] NSWSC 901 (“EB Case”). It provides a useful guide as to when payments from a head contractor to subcontractors may or may not be considered preference payments according to the Corporations Act 2001 (Cth) (“the Act”).[1]

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Outflanked – High Court of Australia “goes behind” Bankruptcy Court Judgment

Posted By Daniel Johnston on September 18, 2017
Outflanked – High Court of Australia “goes behind” Bankruptcy Court Judgment

On 17 August 2017, the High Court of Australia delivered its judgment in Ramsay Health Care Australia Pty Ltd v Compton [2017] HCA 28 (Ramsay v Compton). In this case, the High Court has taken a comprehensive look at the Court’s discretion under section 52 of the Bankruptcy Act 1966 (Act) to “go behind” a judgment and scrutinise a debt that forms the basis of a creditor’s petition.

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Retention of Title Clauses and the Registration of Security Interests on the PPSR as a PMSI

Posted By Matthew Paul on August 17, 2017
Retention of Title Clauses and the Registration of Security Interests on the PPSR as a PMSI

When a business sells goods there are many ways to structure payment. JHK acts for a number of clients who have agreed to supply goods to their customers on credit. This can often be commercially advantageous to our clients, but carries risk.

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PPSR Protection in the Event of Insolvency

Posted By Belinda Pinnow on August 1, 2017
PPSR Protection in the Event of Insolvency

As a creditor, the primary purpose of obtaining security over personal property is to have recourse against that secured property in the event of default by the debtor. Any creditor relying on security interests must understand the impact of the PPSA and, moreover, ensure that their security interests are properly perfected to achieve the maximum protection possible in the event of the insolvency of the debtor.

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Insurers, Their Lawyers and Today’s Economic Challenges

Posted By Shan Auliff on July 12, 2017
Insurers, Their Lawyers and Today’s Economic Challenges

Australian Insurers are finding the honeymoon may be over. With floods, fires and cyclones in multiple States of Australia, corporate collapses resulting in multi-million dollar Insurance claims by out of pocket investors and shareholders and the global financial crisis, Insurers are understandably frightened, timid and seeking to minimise their costs wherever possible.

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How effective is your caveat really?

Posted By Matthias Klepper on June 26, 2017
How effective is your caveat really?

A registered mortgage will, in most circumstances, hold priority over any caveats that are registered on title. This means that even if you enforce the judgment and sell the property by way of seizure and sale; if the equity in the property is not enough to satisfy the mortgage, you may not receive any funds from the sale.

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When does the pressure become too much?

Posted By Daniel Paratore on June 15, 2017
When does the pressure become too much?

In the ordinary course of business, there will be times when a debtor simply cannot pay your invoice on time but still requests goods or services from you.

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Insolvency

Insolvency

Worried you might lose your business, your livelihood or your home?

If you are the owner or director of a company that cannot meet its financial obligations you might be trading insolvent and you are right to be very concerned.

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What Is Insolvency?

What Is Insolvency?

Insolvency is a term that applies to both companies and to individuals who can no longer meet their financial obligations, however personal insolvency (also known as bankruptcy) only applies to individuals.

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The 7 mistakes people make when they hire an insolvency lawyer

The 7 mistakes people make when they hire an insolvency lawyer

If you’re not sure whether you need to hire an insolvency lawyer or not…it probably means you do.

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