Author

Heather Sandell

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In brief Even with the fiscal stimulus and other measures taken by the Federal and State governments in Australia, corporate insolvencies are likely to increase in coming months. Under Australia’s insolvency regimes, a distressed company may be subject to voluntary administration, creditor’s voluntary winding up or court ordered winding up (collectively, an external administration). Each of these processes raises different issues for the commencement and continuation of court and arbitration proceedings. In this alert, we consider…

In brief In response to the COVID-19 pandemic, the Federal Treasurer, Josh Frydenberg MP, has issued a determination that temporarily permits creditors’ meetings and other meetings governed by the Corporations Act 2001 (Cth) (Corporations Act) to be convened and conducted virtually (as opposed to physical meetings), provided that all persons entitled to attend are given a reasonable opportunity to participate. The Corporations (Coronavirus Economic Response) Determination (No.1) 2020 (Cth) (the Instrument) came into effect on…