restructuring

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Navigating a Restructure Under the Corporations Act: Protection Against Contractual Rights to Help Your Business Get Back on Track

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Navigating a Restructure Under the Corporations Act: Protection Against Contractual Rights to Help Your Business Get Back on Track

If your business is restructuring, contractual rights triggered solely by the restructure or financial distress may be rendered unenforceable under section 454N of the Corporations Act 2001 (Cth). This statutory protection can help a business stabilise and continue trading through difficult times. This article reviews a recent case of Okami SA Newton Pty Ltd v Newton SC Pty Ltd which considered the operation of this section.

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When Restructuring Goes Wrong: Lessons from Connelly (liquidator) v Papadopoulos

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When Restructuring Goes Wrong: Lessons from Connelly (liquidator) v Papadopoulos

The Federal Court decision of Connelly v Papadopoulos re TSK Pty Ltd (in liq) highlights some of the implications for professional advisers. directors and officers involved in restructuring of companies and the risks encountered when engaging in restructuring that may be later viewed as asset stripping schemes under the creditor defeating dispositions provisions in the Corporations Act.