Friday, 2 October 2020

Weekly Corporate GovernanceA Weekly Bulletin listing Decisions

of Superior Courts of Australia covering Corporate GovernanceLaw

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Executive Summary (1 minute read)

Blakeley, in the matter of Akron Roads Pty Ltd (in liq) (FCA) - corporations - liquidatorssought direction they were justified to regard bank ’as subrogated to’ employee creditors’’priority rights’ concerning ’priority debts’ - orders granted

GetSwift Limited, in the matter of GetSwift Limited (FCA) - corporations - scheme ofarrangement - interlocutory application - plaintiff sought orders including for ’proposed schememeeting to be conducted as a virtual meeting’ - orders granted

Re The Knowledge Warehouse Pty Ltd (VSC) - corporations - statutory demand - applicationto set aside statutory demand - statutory demand rewritten - ’substantiated amount’ stated -orders made

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Summaries With Link (Five Minute Read)

Blakeley, in the matter of Akron Roads Pty Ltd (in liq) [2020] FCA 1378Federal Court of AustraliaAnderson JCorporations - liquidators of company (Akron) paid ’priority debts ’ concerning Akron’s’employee creditors’ from proceeds of assets’ realisation subject to floating changed whichbank (ANZ) held - liquidators, pursuant to s90-15 Insolvency Practice Schedule, soughtdirection they were justified to regard ANZ ’as subrogated to’ employee creditors’ ’priorityrights’ concerning the priority debts under s556 Corporations Act 2001 (Cth) - ’equitable right ofsubrogation’ - held: orders granted as sought.Blakelely[From Benchmark Monday, 28 September 2020]

GetSwift Limited, in the matter of GetSwift Limited [2020] FCA 1382Federal Court of AustraliaYates JCorporations - scheme of arrangement - interlocutory application - plaintiff sought ordersincluding orders for ’proposed scheme meeting to be conducted as a virtual meeting’ - ordersmade in advance of Court’s decision whether scheme meeting should be convened- Corporations Act 2001 (Cth) - Corporations (Coronavirus Economic Response) Determination(No 1) 2020 (Cth) - Public Health Act 2010 (NSW) - Public Health (COVID-19 Restrictions onGathering and Movement) Order (No 4) 2020 - Public Health (COVID-19 Border Control) Order2020 (NSW) - held: orders granted.GetSwift[From Benchmark Monday, 28 September 2020]

Re The Knowledge Warehouse Pty Ltd [2020] VSC 617Supreme Court of VictoriaRandall AsJCorporations - statutory demand - application to set aside statutory demand - ’characterisationand quantification of’ amount allegedly due - whether ’quantified amount’ ‘due and payable’at date statutory demand served - ss459G, 459H & 1305 Corporations Act 2001 (Cth) -trustees’ duties - admissibility of evidence - whether genuine dispute - held: statutory demandrewritten - ’substantiated amount’ stated - orders made.Re The Knowledge Warehouse[From Benchmark Tuesday, 29 September 2020]

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Fragment of an Ode to MaiaBy: John Keats MOTHER of Hermes! and still youthful Maia! May I sing to theeAs thou wast hymnèd on the shores of Baiæ? Or may I woo theeIn earlier Sicilian? or thy smiles 5Seek as they once were sought, in Grecian isles,By bards who died content on pleasant sward, Leaving great verse unto a little clan? O give me their old vigour! and unheard Save of the quiet primrose, and the span 10 Of heaven, and few ears, Rounded by thee, my song should die away Content as theirs,Rich in the simple worship of a day. https://www.bartleby.com/101/629.html

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