Grant and Helen Burge have completed the sale of the iconic Grant Burge brand, Burge and Rathbone Fine Wine Merchants business and the historic Krondorf Winery, located within the Barossa Valley region of South Australia, to Accolade Wines.
Welcome to the 10th Edition of Insolvency Quarterly covering decisions and developments between October 2014 - December 2014.
On 7 November 2014, the Federal Government released the Insolvency Law Reform Bill (Bill) for public comment.
This decision of Brereton J of the Supreme Court of New South Wales, handed down in June 2014, serves as a timely reminder to secured creditors to immediately register security interests under the Personal Property Securities Act 2009 (Cth) (PPSA) to protect their interests.
Earlier in 2014 the Victorian Court decided whether a judgment debt arising from an adjudication determination pursuant to the Building and Construction Security of Payment legislation (SOP Legislation) could be the subject of a genuine dispute or offsetting claim.
The decision in Kapila v Edelsten  FCA 1112 (Kapila Case) provides further guidance to insolvency practitioners who seek recognition of overseas bankruptcy proceedings in Australia pursuant to the Model Law on Cross-Border Insolvency (Model Law) as incorporated by the Cross-Border Insolvency Act 2008 (Cth).
Generally, unless a bank assumes the role of a financial advisor to its customer, the bank generally owes no obligation to exercise care, in contract or in tort, to the customer in performing the bank's own credit risk analysis and deciding whether or not to provide finance to the customer1.
The long awaited December 2014 decision of the Chief Justice of the Supreme Court of South Australia in Viscariello v Macks (2014) SASC 189 comes in a Liquidation that commenced in 2001, after many years of still incomplete litigation and with important considerations for liquidators.