In summary
In our previous alert we discussed how Justice Markovic in the Federal Court of Australia had granted the administrators of retailer Colette Group relief from personal liability for rent in respect of 93 stores.
On 15 April 2020, Justice Markovic in the Federal Court of Australia granted orders extending the relief for the administrators for a further three weeks until 6 May 2020. The administrators also have the benefit of a direction that they are justified in not paying rent for this further period.
Those orders further demonstrate the flexibility of s447A of the Corporations Act and section 90-15 of the Insolvency Practice Schedule (Corporations) in addressing unprecedented issues arising for administrators from the COVID 19 pandemic.
Read the complete Client Alert here.
