On 1 September 2017, the remaining parts of the new Insolvency Practice Schedule (IPS) introduced by the Insolvency Law Reform Act 2016 (Cth) as Schedule 2 of the Corporations Act 2001 (Cth) (Corporations Act) commenced operation, including the provisions relating to “funds handling” contained in Division 65 of the IPS. These provisions apply to all “external handling” contained in Division 65 of the IPS. These provisions apply to all “Read more…” .
In a wide-reaching judgment concerning an appeal by Mighty River International in the administration of Mesa Minerals, the Western Australian Court of Appeal, has recognised that “holding” Deed of Company Arrangement (DOCA) is permissible under Part 5.3A of the Corporations Act.
The key points – Holding DOCAs as a flexible framework
The key points for insolvency and turnaround professionals to take from Mighty River International v Hughes are: Read more…