Landlords beware – Ipso facto reforms further restrict your rights on insolvency default

On 1 July 2018, the new Insolvency Law reforms in relation to the restrictions on “Ipso Facto” clauses came into force (see new s.415D, s.434J and s.451E of the Corporations Act). In short, the Ipso Facto reforms create an automatic stay on a party’s right to enforce a provision to terminate or amend a Contract […]

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Court finds that a liquidator owes a duty of care to a guarantor

Judgment was handed down today in the matter of Perpetual Nominees Ltd v McGoldrick & Anor (No 3) [2017] VSC 78 where it was held that the liquidators owed a duty of care to the guarantors of a company debt. Gadens acted on behalf of the successful Plaintiff, Perpetual Nominees Ltd, as custodian for OnePath […]

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